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Ashoka Buildcon to sell 11 road projects to Edelweiss infra fund in $272 mn deal

VCCircle

VCCircle · 8m ago

Ashoka Buildcon to sell 11 road projects to Edelweiss infra fund in $272 mn deal

Ashoka Buildcon Ltd is selling 11 road projects to Sekura Roads, owned by Edelweiss Infrastructure Yield Plus fund, for $272 million. The road projects, using a hybrid annuity model, are distributed across various Indian states and will be acquired by Concesiones 2 Pvt Ltd, Infrastructure Yield Plus II, and IIA. The move aligns with Ashoka Buildcon's strategy to focus on larger projects, as evidenced by a recent project win from the National Highways Authority of India.

Related News

CDPQ may buy five road projects from Ashoka Concessions

Livemint

Livemint · 1y ago

CDPQ may buy five road projects from Ashoka Concessions

Canadian pension fund CDPQ is in talks to acquire five operational road projects from Ashoka Concessions Ltd, a subsidiary of Indian infrastructure company Ashoka Buildcon. The potential deal has equity and enterprise values of around $325 million and $700 million, respectively. CDPQ is in exclusive negotiations and is expected to acquire the projects through the Indian Highway Concessions Trust, which is sponsored by CDPQ-backed India-focused road-investment platform Maple Highways. The sale process for these road assets has been ongoing for a while, with several potential buyers evaluating the assets in the past.

Grapevine: Blackstone to double Indian warehouses; CDPQ eyes Ashoka's road projects

VCCircle

VCCircle · 1y ago

Grapevine: Blackstone to double Indian warehouses; CDPQ eyes Ashoka's road projects

Blackstone Inc. plans to double its Indian warehouse holdings, aiming for at least 100 million square feet of space within the next few years. The firm, with a $20 billion real estate portfolio in India, is seeking to raise money through private funds to finance this expansion. Meanwhile, Caisse de dépôt et placement du Québec (CDPQ) is reportedly considering investing in Indian road projects developed by Ashoka Buildcon Ltd. The Canadian pension fund manager is said to be in advanced talks to acquire a minority stake in Ashoka's road projects.

Stock Radar: Eicher Motors, Hero MotoCorp, Mankind Pharma, Ashoka Buildcon, KRN Heat, ITC in focus on Thursday

Money Control

Money Control · 10m ago

Stock Radar: Eicher Motors, Hero MotoCorp, Mankind Pharma, Ashoka Buildcon, KRN Heat, ITC in focus on Thursday

- Mankind Pharma receives regulatory approvals for the acquisition of Bharat Serums and Vaccines. - Zydus Lifesciences gets tentative approval from the USFDA for manufacturing Enzalutamide tablets. - Ashoka Buildcon receives the letter of award for multiple infrastructure projects worth crores. - Royal Enfield sales increase by 11% YoY, surpassing analysts' estimates. - Hero MotoCorp reports sales of 6.37 lakh units, beating analysts' expectations. - Maruti Suzuki India records a 1.9% increase in total sales, driven by higher exports.

Edelweiss front runner to buy O2 Power’s 350 MW solar projects

Livemint

Livemint · 1y ago

Edelweiss front runner to buy O2 Power’s 350 MW solar projects

Sekura Energy, a platform of Edelweiss Infrastructure Yield Plus Fund, is in the lead to acquire 350 MW of solar projects from O2 Power. The deal is expected to have an equity value of $50 million and an enterprise value of $200 million. O2 Power is a renewable energy platform backed by Temasek and EQT. Edelweiss Infrastructure Yield Plus is also interested in acquiring 400 MW solar power projects from Macquarie Group's Stride platform. This sale comes amidst EQT and Temasek's plans to sell O2 Power for an estimated equity value of $1 billion.

Montecarlo explores sale of nine road assets in $360 million deal

Livemint

Livemint · 10m ago

Montecarlo explores sale of nine road assets in $360 million deal

Montecarlo Ltd, an engineering procurement and construction company based in Ahmedabad, is reportedly looking to sell its stakes in nine road assets. The deal, which is expected to have an enterprise value of around $360 million, comes as the road sector in India faces project delays and inventory buildup. The assets being sold are under the hybrid annuity model (HAM), which offers risk-mitigation advantages. HAM projects have drawn interest from fund houses and infrastructure investment trusts due to their risk-sharing structure and predictable cash flows from operational assets.

Edelweiss raises second infra fund; Jindal Power drops M&A plan

VCCircle

VCCircle · 1y ago

Edelweiss raises second infra fund; Jindal Power drops M&A plan

Edelweiss Alternatives has successfully raised over Rs 8,000 crore ($1 billion) for its second infrastructure fund, Edelweiss Alternatives Infrastructure Yield Plus II. The fund received majority of its capital from domestic investors, while the remaining portion was contributed by European institutions. In related news, Jindal Power has decided to drop its plans for mergers and acquisitions.

Edelweiss Alternatives hits funding milestone for second infra-focussed fund

VCCircle

VCCircle · 1y ago

Edelweiss Alternatives hits funding milestone for second infra-focussed fund

Mumbai-based alternative asset manager, Edelweiss Alternatives, has raised approximately $967 million for its second infrastructure fund, Edelweiss Infrastructure Yield Plus II, even though the fund has not yet reached its final close. The capital has been raised from a variety of limited partners, including global pension funds, domestic and offshore institutions, family offices, and ultra-high-net-worth individuals. Edelweiss Group Vice Chairman, Venkat Ramaswamy, believes that India's market opportunity for core infrastructure assets will grow to around $2.5 trillion in the next few years. The company's assets under management are valued at over $6.3 billion.

ADIA, Kotak AIF ink $240 mn real estate deal with Prestige Estates

VCCircle

VCCircle · 1y ago

ADIA, Kotak AIF ink $240 mn real estate deal with Prestige Estates

The Abu Dhabi Investment Authority (ADIA) and Kotak Alternate Investment Fund have signed a $240 million deal with Prestige Estates Projects Ltd to build housing projects in India. The deal includes the development of residential projects in Bengaluru, Mumbai, Goa, and the National Capital Region, with a combined value of over $2.16 billion.

Adani Group to raise up to $500 mn from European funds in energy push

Livemint

Livemint · 1y ago

Adani Group to raise up to $500 mn from European funds in energy push

Adani Green Energy is in the final stages of raising $400-500 million from two European funds. The company, owned by billionaire Gautam Adani's family, plans to sell new shares to raise the funds, which will be used to build new solar, wind, and hybrid power projects in India. Adani Green currently has an operational capacity of 11 GW and aims to expand its capacity to over 20 GW. If the deal goes through, it will be the first time Adani Green raises a significant amount of capital from global funds.

Shrem InvIT moves forward with over $450 mn highway deal

VCCircle

VCCircle · 1y ago

Shrem InvIT moves forward with over $450 mn highway deal

Shrem InvIT, a highways infrastructure investment trust, is set to acquire five operational road projects across multiple states in India. The deal, valued at over $450 million, will strengthen Shrem InvIT's portfolio and expand its presence in Uttar Pradesh, Bihar, Haryana, Maharashtra, Andhra Pradesh, Tamil Nadu, Jharkhand, and Delhi-National Capital Region. The acquisition is expected to enhance the trust's position in the infrastructure sector.

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