Sekura, PATH emerges as highest bidders for new ToT packages

17 Mar 2022 CW Team

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

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..