Mumbai, Oct 9 Reliance Infrastructure Ltd is in advance talks with leading funds for the sale of its toll road projects. According to sources, three prominent bidders -- Macquarie Group, Cube Highways and Kotak Alternate Asset Managers -- are actively vying to acquire eight key road projects from Reliance Infrastructure (RInfra).
These eight road projects are spread across various states and their total length is around 658 km. These strategic assets are collectively valued at an enterprise valuation of Rs 6,000 crore. According to a banker privy to the process, discussions are currently at an advanced stage.
The finalisation of the sale of Reliance Infrastructure's entire road portfolio is likely to be concluded by the end of this month. This transaction will have a significant impact on Reliance Infrastructure's financial position.
The consolidated debt of the company is poised to come down substantially by more than 40 per cent, from Rs 14,500 crore as of March to approximately Rs 8,500 crore.
The portfolio of road projects earmarked for sale includes several key assets, such as the 88.27 km Trichy-Dindigul road, the 136.36 km road between Salem and Ulundurpet, the 66.185 km Gurgaon-Faridabad road, the 79.95 km Trichy-Karur road, the 53.325 km Dindigul-Samayanallur road, the 59.87 km Hosur-Krishnagiri road, the 140.35 km four-lane road project between Pune and Satara, and the 33.48 km Namakkal-Karur highway project.
In January 2021, Reliance Infrastructure successfully completed the sale of its Delhi-Agra toll road to Cube Highways and Infrastructure for a sum of Rs 3,600 crore. Kotak Alternate Asset Managers has over $18 billion Assets Under Management (AUM) and is among the most active domestic funds.
While Macquarie Asia-Pacific Infrastructure Fund is part of Macquarie Asset Management with over $125 billion Assets Under Management, Cube Highways and Infrastructure is backed by ISqaured Capital, a $40 billion global fund.
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