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

11 May 2026

Danube Launches Greenz Villa Community in Dubai

Danube Properties has launched Greenz by Danube, a fully furnished master villa community in Dubai, unveiled by H.E. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, at an event attended by over 7,000 investors and business leaders.Located near Dubai International Academic City and Dubai Silicon Oasis, the development marks Danube’s first large-scale integrated villa community and is positioned within one of Dubai’s emerging residential corridors.The project will comprise three and four-bedroom townhouses along with five-bedroom semi-detached and twin villas...

ABB Launches IE6 Motor for Hazardous Industrial Areas

ABB has introduced what it claims is the world’s first IE6 Hyper-Efficiency motor certified for hazardous industrial environments under ATEX and IECEx standards.The new Increased Safety motor is based on ABB’s synchronous reluctance (SynRM) technology and is designed without magnets or rare earth materials. According to the company, the motor reduces energy losses by up to 60 per cent compared to standard IE3 induction motors commonly used in hazardous areas.The motor is intended for use in industries such as chemicals, marine, oil and gas, pharmaceuticals and food and beverage, where expl..

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..