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

30 Jun 2023 CW Team

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

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..