Sekura in talks to purchase Ashoka Buildcon's $670M road assets
ROADS & HIGHWAYS

Sekura in talks to purchase Ashoka Buildcon's $670M road assets

Sekura, which is an infrastructure platform owned by the Edelweiss Infrastructure Yield fund, has entered into exclusive negotiations for the acquisition of a portfolio of 11 HAM road projects from Ashoka Concessions, a division of Ashoka Buildcon, for approximately $670 million.

The Ashoka roads portfolio has garnered interest from various bidders, including KKR, Sekura, Cube Highways, and Shrem InvIT. The estimated enterprise value of the portfolio is around Rs 55 billion with an equity value of up to Rs 13 billion. EY is advising Ashoka Buildcon on the sale process.

Out of the eleven roads in the portfolio, seven are currently operational while the construction of the remaining four is underway. Ashoka is the sole investor in each of these projects, which are spread across states such as Punjab, Jharkhand, Andhra Pradesh, Karnataka, Telangana, and Gujarat.

The operating road projects include Kharar-Ludhiana, Ranastalam-Anandpuram, Vadodara Kim, Khairatunda-Barwa Adda, Belgaum-Khanapur, Tumkur-Shivamogga -I, and Kandi-Ramsanpalle.

As per a corporate investor presentation, six of these roads generated an annuity income of 881 crores as of March 31. The four active projects are Basawantpur-Singnodi, Tumkur-Shivamogga II, III, and IV. At the time of writing, no response had been received for the emails sent to the Ashoka Group and Edelweiss.

In a recent development, Ashoka's attempt to sell five toll roads to KKR in order to monetize them did not succeed. Under the terms of a contract signed in December 2021, Ashoka had agreed to sell the five toll roads housed under Ashoka Concessions to KKR for a price of 1,337 crores. However, the deal was mutually terminated by the parties.

The transaction proceeds of 1,200 crore were intended to be used for SBI Macquarie's complete exit from the Ashoka Concessions platform.

Also read:
NMDC to invest in first gold block
16 states receive Rs 560.41 billion for capital investment


Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Sekura, which is an infrastructure platform owned by the Edelweiss Infrastructure Yield fund, has entered into exclusive negotiations for the acquisition of a portfolio of 11 HAM road projects from Ashoka Concessions, a division of Ashoka Buildcon, for approximately $670 million. The Ashoka roads portfolio has garnered interest from various bidders, including KKR, Sekura, Cube Highways, and Shrem InvIT. The estimated enterprise value of the portfolio is around Rs 55 billion with an equity value of up to Rs 13 billion. EY is advising Ashoka Buildcon on the sale process. Out of the eleven roads in the portfolio, seven are currently operational while the construction of the remaining four is underway. Ashoka is the sole investor in each of these projects, which are spread across states such as Punjab, Jharkhand, Andhra Pradesh, Karnataka, Telangana, and Gujarat. The operating road projects include Kharar-Ludhiana, Ranastalam-Anandpuram, Vadodara Kim, Khairatunda-Barwa Adda, Belgaum-Khanapur, Tumkur-Shivamogga -I, and Kandi-Ramsanpalle. As per a corporate investor presentation, six of these roads generated an annuity income of 881 crores as of March 31. The four active projects are Basawantpur-Singnodi, Tumkur-Shivamogga II, III, and IV. At the time of writing, no response had been received for the emails sent to the Ashoka Group and Edelweiss. In a recent development, Ashoka's attempt to sell five toll roads to KKR in order to monetize them did not succeed. Under the terms of a contract signed in December 2021, Ashoka had agreed to sell the five toll roads housed under Ashoka Concessions to KKR for a price of 1,337 crores. However, the deal was mutually terminated by the parties. The transaction proceeds of 1,200 crore were intended to be used for SBI Macquarie's complete exit from the Ashoka Concessions platform. Also read: NMDC to invest in first gold block16 states receive Rs 560.41 billion for capital investment

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000