H.G. Infra Engineering Ltd

Financial closure details

• Wholly owned subsidiary H.G. Gobindpur Tangi Highway Private Limited received NHAI financial close letter dated September 28, 2026.
• Date of financial close is September 16, 2026.
• Project cost is ₹1,582.11 crore under Hybrid Annuity Mode, spanning 40.33 km.
• Construction period is 910 days.
• SEBI disclosure requirements were previously satisfied in February and April 2026.

Target at a glance

• Ranipur Chunar Power Transmission Limited, SPV for a power transmission project in Uttar Pradesh, India
• Industry: construction/operation and maintenance of power transmission network
• Size: paid-up capital Rs 5 lakh; turnover not disclosed
• Incorporated in India; incorporation date 12 Dec 2025; last 3 years turnover Nil

Transaction details

• Acquirer: H.G. Infra Engineering Limited; 100% equity via SPA dated 26 Sep 2026
• Consideration: cash; 50,000 shares @ Rs 10; total Rs 5 lakh
• Shares acquired: 50,000; total equity 100%
• Not a related party transaction

Rationale and scope

• Acquisition under RFP and LOI for the project
• Aligns with infrastructure business; expands power transmission presence in UP
• Construct 220/132/33 kV AIS substations/lines for 35 years

Regulatory and timeline

• Regulatory approvals: Not Applicable
• Indicative completion date: 26 Sep 2026

Target background

• Products/services: construction/maintenance of power transmission system
• Incorporated: 12 Dec 2025; RoC Delhi-NCT
• Turnover last 3 years: Nil; presence in India

H.G. Infra Engineering Ltd - Closure of Trading Window from October 01, 2026 till 48 hours after the declaration of unaudited financial results for the quarter ending September 30, 2026

Interest payment details

• Interest payment made: Yes.
• ISIN INE926X08015; issue size Rs. 400 crore.
• Interest amount due on due date: Rs. 17,05,31,507.
• Frequency: Half-yearly.
• Record date: August 14, 2026.
• Due date for interest: 29/08/2026.
• Actual payment date: 31/08/2026.
• Interest paid: Rs. 18,43,39,726.
• Date of last interest payment: March 02, 2026.
• Reason for non-payment/delay: Not Applicable.

Instruments and Ratings

• Cash credit Rs 900 Cr: AA- (Stable); outlook Revised to Stable from Positive.
• Bank guarantees Rs 4300 Cr: AA- (Stable)/A1+; outlook Revised to Stable from Positive.
• Non-convertible debentures Rs 400 Cr: AA- (Stable); outlook Revised to Stable from Positive.
• Total rated exposure: Rs 5600 Cr.

Rating Agency

• Agency: ICRA Limited.

Rationale

• Reaffirmation with outlook revision; rationale details not disclosed in the filing.

Change since last rating

• Outlook moved from Positive to Stable on all ratings.

AGM Details

• Date and time: 19 August 2026 at 2:00 PM IST via VC/OAVM.
• Record date: 12 August 2026.
• Remote e-voting: 16–18 August; voting during AGM.
• Meeting concluded at 3:54 PM IST.

Key Resolutions

• Resolution 1: Adoption of standalone and consolidated financial statements.
• Resolution 2: Final dividend of Rs 2 per equity share.
• Resolution 3: Re-appointment of Vijendra Singh Choudhary as Director.
• Resolution 4: Re-appointment of Harendra Singh as Managing Director for five years.
• Resolution 5: Re-appointment of Vijendra Singh Choudhary as Whole-Time Director for five years.
• Resolution 6: Increase in borrowing limits under section 180(1)(c).
• Resolution 7: Increase in limits for creation of charges and securities under section 180(1)(a).
• Resolution 8: Ratify remuneration payable to Cost Auditors for FY 2027.

Voting Results

• Resolution 1: Passed; one abstention by a member holding 12,895 shares.
• Resolution 2: Passed.
• Resolution 3: Passed.
• Resolution 4: Passed.
• Resolution 5: Passed.
• Resolution 6: Passed.
• Resolution 7: Passed.
• Resolution 8: Passed.

Dividend

• Final dividend of Rs 2 per equity share approved.

Director Changes

• Harendra Singh re-appointed as Managing Director for a third term.
• Effective from 15 May 2027, tenure five years.
• Vijendra Singh Choudhary re-appointed as Whole-Time Director for five years.
• Effective from 15 May 2027.

Auditors

• Cost Auditors remuneration ratified for FY 2027.

Other Material Approvals

• Borrowing limits increased.
• Creation of charges and securities limits increased.

LOI details

• LOI dated August 18, 2026 from REC Power Development and Consultancy Limited.
• Construction of 220/132/33 kV AIS Substations at Ranipur (Mau) and Chunar (Mirzapur) in Uttar Pradesh.
• Procurement through tariff-based competitive bidding; REC Power is a wholly owned subsidiary of REC Limited.
• This LOI follows the May 26, 2026 announcement with SEBI-required details.

Filing Status

• Transcript of Q1 FY27 earnings call (June 30, 2026) available online; wrapper notice only here.

Q1 FY27 earnings call recording

• Earnings conference call recording for Q1 FY27 (quarter ended Jun 30, 2026) released.
• Unaudited standalone and consolidated results discussed.
• Recording date: August 14, 2026.
• Audio recording URL: https://www.hginfra.com/earnings_call/q1_fy27_earnings_conference_call_recordings_aug_14_2026.mp3