Maquarie-SBI invests Rs 110 cr in Ashoka Buildcon
The fund will be utilized for equity investment into various under construction projects.
)
Ashoka Buildcon Ltd, the highway concessionaire and EPC company, has received Rs 110 crore as the third tranche of investments in its subsidiary - Ashoka Concessions Ltd.
(ACL) from Macquarie-SBI Infrastructure Fund (MSIF), a joint venture infrastructure fund of State Bank of India (SBI) and Australia's Macquarie.
The fund will be utilized for equity investment into various under construction projects.
Macquarie-SBI has committed to invest $150 million (Rs 800 crore) in Ashoka Concessions Ltd. Including this tranche, the total equity investment by Macquarie-SBI in ACL comes around Rs 490 crore and balance would be received as per equity requirements of projects under construction, said company statement.
Ashoka Buildcon Ltd currently has a portfolio of 25 BOT projects while Ashoka Concessions has a portfolio of seven toll roads including six national highway projects.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Oct 04 2013 | 7:22 PM IST