HG Infra Engineering Ltd on Thursday (April 23) said it has transferred its 100% equity stake in HG Raipur Visakhapatnam OD-6 Private Ltd to Neo Infra Income Opportunities Fund, following the completion of the transaction, resulting in the entity ceasing to be its subsidiary.
The company sold 11,37,750 equity shares aggregating to a total consideration of ₹282.24 crore. Of this, ₹203 crore was received on the date of completion, while the remaining amount will be received as per the terms of the transaction documents. The securities purchase agreement for the sale had been executed on November 6, 2025.
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For the financial year ended March 31, 2025, HG Raipur Visakhapatnam OD-6 Private Ltd reported revenue of ₹329.10 crore, contributing 6.5% to consolidated revenue, and net worth of ₹132.19 crore, representing 2.6% of consolidated net worth.
The buyer, Neo Infra Income Opportunities Fund, is a registered scheme under Neo Credit Alternatives Investment Trust, a category ii alternative investment fund registered with SEBI and managed by Neo Alternative Asset Managers Private Limited, Mumbai. The buyer does not belong to the promoter or promoter group.
The transaction does not fall under related party transactions, is not a slump sale, and is not outside a scheme of arrangement.
Shares of HG Infra Engineering Ltd ended at ₹606.50, down by ₹11.50, or 1.86%, on the BSE.
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