Ashoka Buildcon to sell 11 roads to Edelweiss for $277 million

Ashoka Buildcon is poised to divest a portfolio of 11 roads to Sekura, an infrastructure platform under Edelweiss Infrastructure Yield Plus fund, for an equity value estimated at around Rs 22 billion -Rs 23 billion (approximately $265-277 million). This transaction marks Ashoka’s largest asset monetisation in recent years, with proceeds intended for debt reduction and funding ongoing and new infrastructure projects. Among the 11 hybrid annuity model (HAM) roads, nine are operational, while two are under construction. Ashoka Buildcon holds a 100 per cent stake in four projects, with its subsidiary Ashoka Concessions owning the remaining seven. These projects are located across Punjab, Jharkhand, Andhra Pradesh, Karnataka, Telangana, and Gujarat.