Client Context & Objective

HG Infra operates as a road construction company focused on government tenders, with a strong presence in Hybrid Annuity Model (HAM) projects that enable predictable cash flows and efficient capital deployment.

Objectives:

• Secure financing for HAM-based road infrastructure projects
• Enable execution of projects exceeding $220 million
• Partner with leading lenders such as HDFC and SBI for structured funding
• Support long-term annuity-driven revenue generation

Pareto Capital’s Role & Value Creation

Pareto Capital acted as the exclusive financial advisor to HG Infra Engineering Ltd. for raising debt financing to support its HAM-based road infrastructure projects. The team worked closely with the company’s senior management to understand project-level cash flows, risk allocation frameworks, and funding requirements, enabling the design of an optimal financing structure aligned with lender expectations. Pareto Capital led detailed engagements with HDFC Bank and State Bank of India, facilitating due diligence, structuring discussions, and negotiation of key commercial terms.

The firm played a critical role in positioning the HAM model’s annuity-backed revenue streams to lenders, ensuring credit comfort and efficient capital deployment. Pareto also coordinated across multiple stakeholders, including lenders, legal advisors, and internal teams, to drive seamless execution and timely financial closure. The transaction strengthened HG Infra’s lender relationships and established a scalable financing framework to support its growing order book and future infrastructure projects.