+
 Sekura, PATH emerges as highest bidders for new ToT packages
ROADS & HIGHWAYS

Sekura, PATH emerges as highest bidders for new ToT packages

Edelweiss Infra's Sekura Roads and Prakash Asphalting and Toll Highways (PATH) emerged as the highest bidders for the National Highways Authority of India (NHAI) auction of the two bundles of Toll Operate Transfer (TOT).

Sekura Roads submitted the highest bid of Rs 1107 crore for the ToT six bundle, while PATH offered Rs 1314 crore for the ToT eight bundle. CDPQ (Indian Highways Concessions Trust), a Canadian institutional investor, offered Rs1071 crore for the ToT 6 bundle, while Adani Group offered Rs 702 crore.

The lowest bidder for ToT six was IRB Infrastructure, which offered Rs 387 crore.

The 11 bids submitted for ToT six and eight bundles had revenue multiples of 7-7.5 times, which was lower than previous ToT bids. According to people familiar with the situation, the bids for ToT 5A-1 and 5A-2 were in the range of 10-11 times the revenue multiples.

Adani and DP Jain were the winners of the ToT Bundle five assets, which were split into two parts – 5A-1 and 5A-2 – and both companies quoted the highest prices.

ToT Project Bundle six consists of a 32.8 km Agra Bypass and a 75.3-km Shivpuri Jhansi Bypass. Bundle seven of the ToT Project is NCR's 135-km Eastern Peripheral Expressway, while Bundle eight is NH-7's 139 km Borkhedi-Wadner-Deodhari-Kelapur-Maharashtra and Telangana Border.

Adani is the second-highest bidder for the ToT eight bundle, with Rs 1032 crore.

In the next three years, the NHAI hopes to raise about Rs two lakh crore. It will also use infrastructure investment trusts (InvITs) to monetise existing assets. The funds will be used to construct new highways and reduce the NHAI's mounting debt, which stood at Rs 3.17 lakh crore at the end of 2020-21.

Macquarie won NHAI's first highway asset monetisation programme through the TOT model in 2018, paying Rs 9,681 crore, 1.5 times the NHAI's base price. The ToT bundle two monetisation programme was cancelled by NHAI because no bidders met the floor price of Rs 5,632 for the 586-km length.

Cube Highways was awarded TOT- Bundle three Projects, which included nine road segments totalling 2,265 lane km spread across four states, while the fourth bundle was cancelled.

Image Source

Also read: Adani, DP Jain Infra highest bidders for NHAI's TOT-5 auction

Edelweiss Infra's Sekura Roads and Prakash Asphalting and Toll Highways (PATH) emerged as the highest bidders for the National Highways Authority of India (NHAI) auction of the two bundles of Toll Operate Transfer (TOT). Sekura Roads submitted the highest bid of Rs 1107 crore for the ToT six bundle, while PATH offered Rs 1314 crore for the ToT eight bundle. CDPQ (Indian Highways Concessions Trust), a Canadian institutional investor, offered Rs1071 crore for the ToT 6 bundle, while Adani Group offered Rs 702 crore. The lowest bidder for ToT six was IRB Infrastructure, which offered Rs 387 crore. The 11 bids submitted for ToT six and eight bundles had revenue multiples of 7-7.5 times, which was lower than previous ToT bids. According to people familiar with the situation, the bids for ToT 5A-1 and 5A-2 were in the range of 10-11 times the revenue multiples. Adani and DP Jain were the winners of the ToT Bundle five assets, which were split into two parts – 5A-1 and 5A-2 – and both companies quoted the highest prices. ToT Project Bundle six consists of a 32.8 km Agra Bypass and a 75.3-km Shivpuri Jhansi Bypass. Bundle seven of the ToT Project is NCR's 135-km Eastern Peripheral Expressway, while Bundle eight is NH-7's 139 km Borkhedi-Wadner-Deodhari-Kelapur-Maharashtra and Telangana Border. Adani is the second-highest bidder for the ToT eight bundle, with Rs 1032 crore. In the next three years, the NHAI hopes to raise about Rs two lakh crore. It will also use infrastructure investment trusts (InvITs) to monetise existing assets. The funds will be used to construct new highways and reduce the NHAI's mounting debt, which stood at Rs 3.17 lakh crore at the end of 2020-21. Macquarie won NHAI's first highway asset monetisation programme through the TOT model in 2018, paying Rs 9,681 crore, 1.5 times the NHAI's base price. The ToT bundle two monetisation programme was cancelled by NHAI because no bidders met the floor price of Rs 5,632 for the 586-km length. Cube Highways was awarded TOT- Bundle three Projects, which included nine road segments totalling 2,265 lane km spread across four states, while the fourth bundle was cancelled. Image Source Also read: Adani, DP Jain Infra highest bidders for NHAI's TOT-5 auction

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code