Madhucon Agra-Jaipur Expressways Limited is a step down subsidiary of Madhucon Projects Limited.
The acquisition is scheduled to be completed in 60 days.
Madhucon managing Director Nama Seethiah said the group has four operating toll/annuity road projects while three are under construction.
"The Group strategy is to leverage its renowned EPC expertise to execute road projects and flip the operating assets," Seethiah said in the statement.
Madhucon Group is involved in power, EPC, granites, sugar and toll roads businesses.
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