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

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..

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..

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..