Macquarie to exit from Ashoka Concessions Limited

Macquarie Infrastructure and Real Assets (MIRA) plans to exit the roads platform, Ashoka Concessions Limited. Macquarie, an Australian company, had acquired a 34 per cent stake in the platform in 2012, for Rs 8 billion. The remaining stake is held by Ashoka Buildcon Limited. Reportedly, Macquarie has already commenced the process for appointing an investment banker to advise it on exiting its stake from the road company. A decision in this regard is expected to be taken soon. An exit for the company from the roads platform could materialise in the form of sale of road assets or a stake sale in Ashoka Concessions Limited. Ashoka Concessions Limited holds six operational BOT (toll) projects, one operational BOT (annuity) project, and seven under-construction hybrid annuity model projects.