HG Infra Engineering Limited has completed the divestment of its wholly-owned subsidiary H.G. Khammam Devarapalle PKG-2 Private Limited to Neo Infra Income Opportunities Fund on March 20, 2026. The transaction marks the culmination of a process that began with earlier announcements in August and December 2025.

Transaction Details

The company transferred its complete 100% equity stake aggregating to 14,10,500 equity shares in H.G. Khammam Devarapalle PKG-2 Private Limited. The Securities Purchase Agreement was executed on December 26, 2025, with the actual transfer of equity shares completed on March 20, 2026.

Financial Contribution of Subsidiary

H.G. Khammam Devarapalle PKG-2 Private Limited contributed significantly to the parent company's consolidated financials for the financial year ended March 31, 2025.

Payment Structure

The total consideration of ₹213.85 crore is being received in tranches. H.G. Infra Engineering has already received the first tranche amounting to ₹47.63 crore on March 20, 2026. The company expects to receive the second tranche in the following week.

Buyer Information

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. The fund is managed by Neo Alternative Asset Managers Private Limited, which has its registered office at Marathon Futurex, Mafatlal Mills Compound, NM Joshi Marg, Lower Parel, Mumbai. The buyer does not belong to the promoter, promoter group, or group companies, and the transaction does not fall under related party transactions.

Regulatory Compliance

The divestment has been carried out in compliance with Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction is not classified as a slump sale and does not fall within any scheme of arrangement, making Regulation 37A of LODR Regulations not applicable to this transaction.

HG Infra Engineering Limited has informed stock exchanges about the voluntary dissolution of six step-down wholly owned subsidiaries, all related to solar energy projects in Rajasthan. The company filed the intimation on March 19, 2026, under Regulations 30 and 51 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Subsidiaries Being Dissolved

The six subsidiaries being dissolved are all solar project companies that were incorporated in 2024 but never commenced operations:

Dissolution Process and Timeline

The company has obtained consent from respective shareholders of all six subsidiaries for voluntary dissolution. HG Infra Engineering will now make applications for strike-off with the Registrar of Companies, Jaipur. The strike-off process for all subsidiaries is expected to be completed within 3-4 months.

Since inception, none of the mentioned companies commenced their operations, resulting in no turnover, revenue, income, or net worth contribution to the parent company during the last financial year. Upon completion of the strike-off process, these companies will cease to be step-down wholly owned subsidiaries of HG Infra Engineering Limited.

Regulatory Compliance

The dissolution process is being conducted in compliance with SEBI regulations, with detailed disclosures provided as required under Regulation 30. Since the subsidiaries never became operational and no sale transactions are involved, most regulatory requirements regarding buyer details, consideration amounts, and related party transactions are not applicable to this dissolution process.

The intimation was signed by Ankita Mehra, Company Secretary and Compliance Officer of HG Infra Engineering Limited, ensuring proper regulatory compliance throughout the dissolution process.