Ashoka Buildcon raises Rs 110 crore from PE investment

Ashoka Buildcon has received Rs. 110 crore as the third tranche of investments in its subsidiary Ashoka Concessions Ltd. (ACL) from SBI Macquarie.
 
The fund will be utilised for equity investment into various under construction projects. SBI-Macquarie has committed to invest Rs 800 crore in ACL, the company said.
 
It adds, “Including this tranche, the total equity investment by SBI-Macquarie in ACL is Rs. 490 crore and balance would be received as per equity requirements of projects under construction.”
 
Ashoka Buildcon currently has a portfolio of 25 BOT projects  of which 20 are revenue generating as of date. ACL has a portfolio of seven toll roads including six national highway projects .

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