Cube Nears Rs 40 Billion Deal for Athaang Road Assets

05 Sep 2024 CW Team

Cube Highways, one of India?s largest private sector toll road operators, is likely to acquire the road assets of National Investment and Infrastructure Fund?s (NIIF) Athaang Infrastructure, according to two informed sources. The deal is projected to have an equity value of approximately Rs 40 billion.

Canada Pension Plan Investment Board (CPPIB), the other finalist, also submitted a binding bid for the deal managed by JP Morgan. Cube Highways is expected to be granted exclusivity to finalize the acquisition of a portfolio consisting of five road assets totalling 230 km.

Earlier reports from Mint had indicated that CPPIB and Cube Highways were the final contenders and were anticipated to submit their final binding bids.

One of the sources noted that both Cube Highways and CPPIB had made binding bids, and Cube Highways had emerged as the leading candidate. The intention is now to provide Cube Highways with exclusivity to conclude the transaction.

Approximately ten global and domestic infrastructure funds, including CPPIB, KKR, Spain?s Abertis, France?s Vinci Highways, Edelweiss? Sekura Roads, and Caisse de d?p?t et placement du Qu?bec (CDPQ), have signed non-disclosure agreements (NDAs) for the deal.

Spokespersons for CPPIB and JP Morgan declined to comment, while representatives from NIIF and Cube Highways did not respond to emailed inquiries on Monday evening.

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..