Maple Infrastructure Trust To Expand India Portfolio

10 Jan 2025 CW Team

Acting through its investment manager, Maple Infra InvIT Investment Manager Private Limited, MIT aims to acquire Ashoka Dhankuni Kharagpur Tollway Limited (ADKTL), Ashoka Sambalpur Baragarh Tollway Limited (ASBTL), Ashoka Belgaum Dharwad Tollway Limited (ABDTL), Ashoka Highways (Bhandara) Limited (AHBL), and Ashoka Highways (Durg) Limited (AHDL).

This acquisition will strengthen MIT’s portfolio of road assets across key States, including West Bengal, Odisha, Karnataka, Maharashtra, and Chhattisgarh. These projects, developed under concession agreements with the National Highway Authority of India (NHAI), include six- and four-lane toll roads with a combined length of over 400 km. The move highlights MIT’s commitment to enhancing India’s road infrastructure and aligns with its growth strategy under the Securities and Exchange Board of India (SEBI) Infrastructure Investment Trusts framework.

The acquisition, referred to collectively as the “Proposed Transactions,” also includes inter-connected deals involving key stakeholders such as CDPQ Infrastructures Asia III Inc., the global investment arm of Québec’s pension funds; Maple Highways Pte. Ltd.; and 360 ONE Private Equity Fund. The latter is managed by 360 ONE Alternates Asset Management and specialises in diversified investments across India and global markets.

The transactions are unlikely to raise competition concerns due to MIT’s role as an infrastructure trust focused on operating and owning road assets in India. However, the Competition Commission of India (CCI) has been notified under the Combination Regulations 2024, with the ‘market for road assets’ suggested as the relevant market for evaluation.

This strategic consolidation by MIT comes at a crucial time when infrastructure development is seen as a critical driver of economic growth.

The acquisitions will not only enhance operational efficiencies but also strengthen MIT’s position as a key player in India’s toll road and highway segment, while paving the way for future investments in this sector.

Maple Infrastructure Trust (MIT), a leading player in India’s road infrastructure sector, has proposed the acquisition of five major toll road projects, signalling a significant expansion of its footprint in the country. Acting through its investment manager, Maple Infra InvIT Investment Manager Private Limited, MIT aims to acquire Ashoka Dhankuni Kharagpur Tollway Limited (ADKTL), Ashoka Sambalpur Baragarh Tollway Limited (ASBTL), Ashoka Belgaum Dharwad Tollway Limited (ABDTL), Ashoka Highways (Bhandara) Limited (AHBL), and Ashoka Highways (Durg) Limited (AHDL).This acquisition will strengthen MIT’s portfolio of road assets across key States, including West Bengal, Odisha, Karnataka, Maharashtra, and Chhattisgarh. These projects, developed under concession agreements with the National Highway Authority of India (NHAI), include six- and four-lane toll roads with a combined length of over 400 km. The move highlights MIT’s commitment to enhancing India’s road infrastructure and aligns with its growth strategy under the Securities and Exchange Board of India (SEBI) Infrastructure Investment Trusts framework.The acquisition, referred to collectively as the “Proposed Transactions,” also includes inter-connected deals involving key stakeholders such as CDPQ Infrastructures Asia III Inc., the global investment arm of Québec’s pension funds; Maple Highways Pte. Ltd.; and 360 ONE Private Equity Fund. The latter is managed by 360 ONE Alternates Asset Management and specialises in diversified investments across India and global markets.The transactions are unlikely to raise competition concerns due to MIT’s role as an infrastructure trust focused on operating and owning road assets in India. However, the Competition Commission of India (CCI) has been notified under the Combination Regulations 2024, with the ‘market for road assets’ suggested as the relevant market for evaluation.This strategic consolidation by MIT comes at a crucial time when infrastructure development is seen as a critical driver of economic growth. The acquisitions will not only enhance operational efficiencies but also strengthen MIT’s position as a key player in India’s toll road and highway segment, while paving the way for future investments in this sector.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..