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

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

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

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..