+
Sekura in talks to purchase Ashoka Buildcon's $670M road assets
ROADS & HIGHWAYS

Sekura in talks to purchase Ashoka Buildcon's $670M road assets

Sekura, which is an infrastructure platform owned by the Edelweiss Infrastructure Yield fund, has entered into exclusive negotiations for the acquisition of a portfolio of 11 HAM road projects from Ashoka Concessions, a division of Ashoka Buildcon, for approximately $670 million.

The Ashoka roads portfolio has garnered interest from various bidders, including KKR, Sekura, Cube Highways, and Shrem InvIT. The estimated enterprise value of the portfolio is around Rs 55 billion with an equity value of up to Rs 13 billion. EY is advising Ashoka Buildcon on the sale process.

Out of the eleven roads in the portfolio, seven are currently operational while the construction of the remaining four is underway. Ashoka is the sole investor in each of these projects, which are spread across states such as Punjab, Jharkhand, Andhra Pradesh, Karnataka, Telangana, and Gujarat.

The operating road projects include Kharar-Ludhiana, Ranastalam-Anandpuram, Vadodara Kim, Khairatunda-Barwa Adda, Belgaum-Khanapur, Tumkur-Shivamogga -I, and Kandi-Ramsanpalle.

As per a corporate investor presentation, six of these roads generated an annuity income of 881 crores as of March 31. The four active projects are Basawantpur-Singnodi, Tumkur-Shivamogga II, III, and IV. At the time of writing, no response had been received for the emails sent to the Ashoka Group and Edelweiss.

In a recent development, Ashoka's attempt to sell five toll roads to KKR in order to monetize them did not succeed. Under the terms of a contract signed in December 2021, Ashoka had agreed to sell the five toll roads housed under Ashoka Concessions to KKR for a price of 1,337 crores. However, the deal was mutually terminated by the parties.

The transaction proceeds of 1,200 crore were intended to be used for SBI Macquarie's complete exit from the Ashoka Concessions platform.

Also read:
NMDC to invest in first gold block
16 states receive Rs 560.41 billion for capital investment


Sekura, which is an infrastructure platform owned by the Edelweiss Infrastructure Yield fund, has entered into exclusive negotiations for the acquisition of a portfolio of 11 HAM road projects from Ashoka Concessions, a division of Ashoka Buildcon, for approximately $670 million. The Ashoka roads portfolio has garnered interest from various bidders, including KKR, Sekura, Cube Highways, and Shrem InvIT. The estimated enterprise value of the portfolio is around Rs 55 billion with an equity value of up to Rs 13 billion. EY is advising Ashoka Buildcon on the sale process. Out of the eleven roads in the portfolio, seven are currently operational while the construction of the remaining four is underway. Ashoka is the sole investor in each of these projects, which are spread across states such as Punjab, Jharkhand, Andhra Pradesh, Karnataka, Telangana, and Gujarat. The operating road projects include Kharar-Ludhiana, Ranastalam-Anandpuram, Vadodara Kim, Khairatunda-Barwa Adda, Belgaum-Khanapur, Tumkur-Shivamogga -I, and Kandi-Ramsanpalle. As per a corporate investor presentation, six of these roads generated an annuity income of 881 crores as of March 31. The four active projects are Basawantpur-Singnodi, Tumkur-Shivamogga II, III, and IV. At the time of writing, no response had been received for the emails sent to the Ashoka Group and Edelweiss. In a recent development, Ashoka's attempt to sell five toll roads to KKR in order to monetize them did not succeed. Under the terms of a contract signed in December 2021, Ashoka had agreed to sell the five toll roads housed under Ashoka Concessions to KKR for a price of 1,337 crores. However, the deal was mutually terminated by the parties. The transaction proceeds of 1,200 crore were intended to be used for SBI Macquarie's complete exit from the Ashoka Concessions platform. Also read: NMDC to invest in first gold block16 states receive Rs 560.41 billion for capital investment

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code