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

Ashoka Buildcon is likely to divest a portfolio of 11 roads to Sekura, an infrastructure platform under Edelweiss Infrastructure Yield Plus fund, for an equity value estimated at Rs 22 billion-Rs 23 billion (approximately $265 million-$277 million). This transaction marks Ashoka’s largest asset monetisation in recent years, with proceeds intended for debt reduction and funding of ongoing and new infrastructure projects. Of 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.