Parties Involved: Welspun Enterprises Limited (WEL) and BIIF Infrastructure II Private Limited (a company fully held by Build India Infrastructure Fund, a SEBI registered Category II fund with registration no. IN/AIF2/22-23/1160, managed by Alpha Alternatives Fund Advisor LLP).
Project Description: WASPPL operates the Aunta Simaria Ganga River Bridge Highway Project in Bihar on a hybrid annuity model (HAM) basis as concessionaire under a concession agreement with NHAI.
Enterprise Value: Aggregate Enterprise Value (EV) of approximately ₹1,000 Crore (Rupees One Thousand Crore Only), subject to adjustments for carry interest, net current assets, and pass-through receivables.
Approvals and Conditions
The transaction consummation is subject to approval from NHAI and lenders.
Completion is subject to fulfilment of conditions precedent and other contractual obligations under the SSPA.
Expected Completion Date: On or before September 30, 2026, or any other mutually agreed date.
Financial and Materiality Impact
WASPPL is not a material subsidiary.
Revenue Contribution: Contributed ₹196.77 Crore (5.44%) to consolidated revenue for the last financial year.
Net Worth Contribution: Contributed ₹55.49 Crore (1.90%) to consolidated net worth as of March 31, 2026.
The transaction value is below the materiality threshold prescribed under the Companies Act, 2013, and thus does not require shareholder approval.
Transactional Classifications
The transaction is not a Related Party Transaction.
The buyer does not belong to the promoter/promoter group/group companies of WEL.
Strategic Rationale (from Press Release)
The divestment advances WEL's asset-light strategy of developing high-quality infrastructure and monetizing them at an appropriate stage.
Enables capital recycling into selective growth opportunities across transportation, water, wastewater, and tunnelling sectors.
Maintains the strength and flexibility of the company's balance sheet.
Builds on WEL's established track record of capital recycling, having monetized six completed road assets with an aggregate enterprise value exceeding ₹9,000 crore in 2022.
Project Details (from Press Release)
The 8.15-km Aunta–Simaria project includes India's widest extradosed bridge across the River Ganga.
It strengthens connectivity between North and South Bihar and improves access to agricultural and industrial markets.
The project demonstrates WEL's ability to execute technically complex infrastructure assets under challenging conditions.
