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

Real Estate

10 Nov 2025

Sonu Sood Inspires Fitness at Signature Global’s DXP WellFest

Signature Global, one of India’s leading real estate developers, hosted another edition of its DXP Wellness Fest at DXP Estate, Sector 37D, Dwarka Expressway, bringing together residents, fitness enthusiasts, and wellness brands for a day dedicated to health, mindfulness, and community living.The highlight of the event was an engaging session with actor and philanthropist Sonu Sood, who inspired participants to embrace fitness, resilience, and collective well-being. The festival also featured energetic performances by Tagra Raho, the fitness brand by M.S. Dhoni, and interactive experiences b..

BICES 2025 Draws 1,300 Global Exhibitors to Showcase Next-Gen Machinery

The 17th China (Beijing) International Construction Machinery, Building Material Machines and Mining Machines Exhibition (BICES 2025) concluded successfully at the China International Exhibition Center, Shunyi.Held from September 23–26 under the theme “High-end, Green, Smart and Future,” the world-class event brought together nearly 1,300 leading domestic and international enterprises across a sprawling 150,000 sq. m exhibition area. The show attracted over 148,000 professional visitors and users from 73 countries and regions, reinforcing its position as one of the most influential gathe..

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..