NIIF may buy equity in Ashoka Buildcon HAM road asset for $100 mn

14 Apr 2021 Editorial Team

India’s sovereign wealth fund, National Investment and Infrastructure Fund (NIIF), is likely to acquire the hybrid annuity model (HAM) road assets of Ashoka Buildcon’s subsidiary Ashoka Concessions Ltd (ACL) for an equity value of around $100 million.

Bidders for ACL’s HAM assets included NIIF, Actis Llp and Canada's Brookfield Asset Management Inc, who proposed equity bids of around $350 million and an enterprise value of $1.2 billion, and Cube Highways had also shown interest in the sale.

As a part of the sales purchase agreement, NIIF is expected to acquire ACL’s HAM assets. ACL’s portfolio of road assets comprise 15 projects, including one operational annuity project under the build, operate, and transfer (BOT) model, six operational BOT toll projects, and eight under-construction HAM projects.

NIIF and Public Sector Pension Investment Board plan to invest $2 billion in equity to acquire road assets in India.

Ashoka Buildcon Ltd has a 61% stake in ACL, while the remaining 39% is held by Macquarie Infrastructure and Real Assets (MIRA), one of the biggest foreign infrastructure investors in India. In 2012, Macquarie, through its first India-focused fund, had bought the stake for Rs 800 crore. It had finalised the deal jointly with the State Bank of India (SBI).

Image Source

Also read: NIIF makes equity investment of Rs 4.7k cr in five years

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..