KKR’s InvIT likely to secure 316 km highway asset in ToT 12 auction

KKR backed- Highways Infrastructure Trust (HIT) is likely to win the 316-km long highway asset in the ToT 12 auction conducted by the NHAI.
KKR has submitted the highest bid of Rs 41.81 billion for the Lalitpur-Lakhnadon stretch of NH-26 in Madhya Pradesh, which is part of the ToT 12 bundle. NHAI’s initial estimated concession value (IECV) for ToT 12 was around Rs 45 billion. Cube Highways offered the second-highest bid of Rs 35.10 billion for the ToT 12 asset.
Following closely was IRB Infrastructure with a bid of Rs 34.56 billion, and the Indian Highway Concessions Trust with a bid worth Rs 30.59 billion. The expected revenue for the Lalitpur-Lakhnadon stretch is Rs 3.31 billion for 2024-25. Meanwhile, Cube Highways, the sole bidder for ToT 11, which offered Rs 18.50 billion, is likely to win the 82-km long Allahabad Bypass, which is anticipated to generate Rs 2.68 billion in 2024-25.