Sekura in talks to acquire Ashoka Buildcon’s road asset portfolio

Sekura is in discussions to acquire a portfolio of 11 hybrid annuity model (HAM) road projects valued at approximately $670 million from Ashoka Concessions, a subsidiary of Ashoka Buildcon. Several potential buyers, including KKR, Cube Highways, and Shrem InvIT had previously expressed interest in the Ashoka roads portfolio.
The portfolio, consisting of seven operational projects and four under construction, is anticipated to have an enterprise value close to Rs 5.5 billion, with an equity value of up to Rs 13 billion. The assets span across Punjab, Jharkhand, Andhra Pradesh, Karnataka, Telangana, and Gujarat.