Adani, DP Jain win bids for highways in toll road auction
Adani Enterprises and construction firm DP Jain & Co have submitted the highest bids for two bundles of highways in the National Highways Authority of India’s (NHAI’s) latest toll road auctions, a person aware of the auction results said. NHAI has raised a total of ₹2,262 crore through the two bundles totaling 158.6km.
The financial bids for tranche five of the NHAI toll-operate-transfer (TOT) auction were opened on Friday. Adani Enterprises won the first bundle with a financial bid of ₹1,011 crore, beating Cube Highways, which bid ₹345 crore, DP Jain and Co. ( ₹603 crore) IRB Infra ( ₹518.4 crore), Prakash Asphaltings & Toll Highways (India) Ltd ( ₹555.55 crore) and a special purpose vehicle by Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ, ₹646 crore).
The second bundle was won by DP Jain & Co. for ₹1,251 crore, beating bids by Adani Enterprises ( ₹944 crore), Cube Highways ( ₹182 crore), IRB Infra ( ₹408.6 crore), Prakash Asphaltings & Toll Highways (India) Ltd ( ₹535.10 crore) and CDPQ ( ₹1,043 crore).
