Anil Ambani-led Reliance Infrastructure (Rel Infra) is planning to monetize its Pune-Satara Toll Road project by selling it to Singapore-based Cube Highways and Infrastructure III Pte. The Singapore firm is set to acquire a 100 per cent stake in PS Toll Road, the special purpose vehicle (SPV) that operates the project.
According to FinancialExpress.com sources, the move is seen as part of Reliance Infrastructure‘s ongoing strategy to monetize non-core assets, improve financial flexibility, and focus on long-term growth. The enterprise value for the PS Toll Road transaction is estimated at Rs 2,000 crore.
Reliance Infra to receive Rs 600 crore in cash
As part of the deal, Reliance Infrastructure is expected to receive Rs 600 crore in equity proceeds. The company plans to deploy these funds for future growth initiatives in its core business areas.
In addition to cash proceeds, the transaction may help Reliance Infrastructure reduce its consolidated debt by Rs 1,400 crore, strengthening the company’s balance sheet. On a standalone basis, the company remains debt-free, reaffirming its focus on disciplined financial management.
Pune-Satara Toll Road: 140-km six-lane expressway boosting connectivity
FinancialExpress.com sources highlighted that the PS Toll Road was set up to develop, operate, and maintain a 140-kilometre six-lane expressway between Pune and Satara along National Highway NH-48. Built under the Build-Operate-Transfer (Toll) model, the project forms a key part of the Golden Quadrilateral, improving connectivity between Mumbai and Bengaluru. Toll collection on the corridor began in October 2010.
Second major deal strengthens ties with Cube Highways
This is set to be the second successful toll road deal between Reliance Infrastructure and Cube Highways. In 2020, Reliance sold its Delhi-Agra Toll Road asset to Cube Highways for Rs 3,600 crore, further cementing their strategic partnership.
Reliance Infrastructure currently manages seven toll road assets across India, covering a total length of around 2,468 lane kilometres.