Highways Financial News

Cube Highways & Infrastructure, an investment arm of global infrastructure fund I Squared Capital, plans to monetise some of its road assets by selling seven highway projects spanning 516 kilometres (2,200 lane km), multiple people aware of the development said. Cube has hired Ambit Capital to run the sale process and feelers have already been sent to leading investors and strategic investors, the sources said. They did not share any estimated sale value. The assets on the block include six hybrid annuity model (HAM) assets and one BOT (build-operate-transfer) asset. They reported a total revenue of ₹860 crore in FY23. Cube Highways — the largest roads operator in India with a portfolio of 27 highways spanning nearly 8,400 lane km — had originally planned to transfer these assets with a right of first offer (ROFO) into its private infrastructure investment trust (InvIT), the sources said.

OpenAI CEO Sam Altman is set to make a ‘killing’ from Reddit IPO “The Indian IPO market continues to be buoyont, backed inter alia by political stability, optimistic investor sentiment, a robust economy, and expectations of lower inflation and rate cuts in 2024.This positive environment is expected to fuel number of public offerings in coming couple of quarters," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd. Last week, two mainboard IPOs Juniper Hotels Limited and GPT Healthcare Limited opened with the target to raise ₹2,325 crores.

injured after a cement tanker hit a bus on the Ahmedabad-Vadodara Expressway in Nadiad in the late hours on Friday. According to the police, bus broke the roadside railing and fell 25 feet down on the roadside. Rajesh Gadhiya, Superintendent of Police, said, «The bus was going from Ahmedabad to Pune in which there were about 23 passengers. The driver of a cement tanker suddenly turned left and hit the bus. Two people have died and several people have been injured. Their treatment is underway. A case will be filed against the tanker driver and further legal action will be taken.»

By Sybille de La Hamaide and Benoit Tessier

Ministry of Road Transport and Highways expects to construct anywhere between 12,000 and 13,000 km of national highways in 2023-24, which will be the second highest national highways construction in the country. The highest annual construction so far has been 13,327 km in 2020-21 while the second highest was 10,855 km in 2018-19. The ministry has completed construction of 7,685 km till the end of January 2024. It had set a construction target of 13,814 km for FY ’24. “We are optimistic of doing 4500-5000 km in the remaining two months which will help us to achieve anywhere between 12,000 and 13,000 km in the current financial year. This will be the second best achievement,” road transport and highways secretary Anurag Jain said on Friday.

Rakesh Tikait. The protesting farmers halted their ‘Dilli Chalo’ march for two days to take stock of the ongoing situation on the Shambhu border in Haryana and further decisions will be taken accordingly, the general secretary of the Punjab Kisan Mazdoor Sangharsh Committee Here are top 10 updates on farmers' Delhi Chalo protest, 1) The SKM will also hold a tractor march on highways towards the national capital, said the BKU leader who led the farmers' protest held in 2020-21 to cause the repeal of the three farm laws, which, later, were taken back by the central government. 2) “On February 26, we will take tractors to the highway, and towards the way that goes to Delhi.

₹3,672 crore for the ₹5,000 crore project, the rest will come from sovereign green funds, green bonds, carbon markets and multilateral development banks, among others. NHEV is also in talks with joint ventures of public sector companies to take up and operate charging infrastructure.

Mint in the week gone by. In response to the revival of protests by farmers, the government had floated a proposal to buy at least five crops over the next five years at minimum support price (MPS). But, farmers have rejected the Centre's offer, and are marching to Delhi again.

Volkswagen is recalling more than 261,000 cars in the U.S. to fix a potential fuel leak that can increase the risk of fires

asset reconstruction companies including global fund JC Flowers ARC and Varde Partners-backed Aditya Birla ARC are participating in the Swiss auctions that lenders have initiated for three road projects — Pink City Expressway, Haridwar Highways Project, and Rohtak Hissar Tollway — and Metenere, a manufacturer of recycled non-ferrous products. Kotak Mahindra Bank-sponsored Phoenix ARC, Omkara ARC, and Prudent ARC too are among those who have submitted bids for either all four or a few of these stressed debt on sale, based on binding bids from the government-backed bad bank National Asset Reconstruction Company Ltd (NARCL), a person familiar with the development said. «The Swiss auction is triggered after NARCL submitted binding bids for these assets and after the highest bidder is announced, NARCL will be given the right to match the offer,» the person said. «Lenders want to close the sale of these NPLs before the end of this financial year.»

The Samyukt Kisan Morcha (SKM), an umbrella body which led the farmers' protest against three farm laws, announced that a farmers Mahapanchayat will be held in New Delhi on March 14 at the Ramleela ground. SKM is not part of the 'Delhi Chalo' march, however, it has been supporting it. SKM, which comprises Punjab's largest farmer union like BKU (Ugrahan) and also BKU (Tikait) that enjoys influence in western Uttar Pradesh, also announced a Black Day and a tractor march on national highways on Monday.

investment firm, has raised $6.4 billion under KKR Asia Pacific Infrastructure Investors II SCSp, for its infrastructure-related investments across Asia Pacific. At close, the fund is the largest pan-regional infrastructure fund to have been raised for Asia Pacific, stated a press release. This closely follows KKR’s debut Asia Pacific-dedicated infrastructure fund, KKR Asia Pacific Infrastructure Investors SCSp, which closed at $3.9 billion in 2021 as the largest Asia-dedicated pan-regional fund at the time.

₹83 to ₹87 per share, with a face value of ₹10. Investors can bid for a minimum of 1600 shares and in multiples thereof. The minimum lot size for an application is 1600 shares.

₹2,500 crore through the public issue, which is the highest so far this year. ICICI Securities, Axis Capital, HDFC Bank, and IIFL Securities are the appointed book-running lead managers for the issue.

Mexico's president acknowledges the armed forces have taken over yet another civilian role: filling potholes on the nation's highways

Indian farmers who have been protesting for a week to demand guaranteed crop prices have rejected a proposal from the government, and say they will continue their march to New Delhi

Greek farmers have ridden some 200 tractors to the capital, Athens, demanding financial help from the government as cost of living spiked in the Mediterranean country

Mumbai, February 6, 2024: After the resounding success of Shapoorji Pallonji Real Estate’s premium project BKC 28, WSB Real Estate Debt Fund II (WSBREDF II) has invested INR 55 crore in another premium project, BKC 9, situated in Bandra East, Mumbai. BKC 9 is a collaborative effort between Shapoorji Pallonji Real Estate (SPRE) and Vakratunda Realty Private Ltd The WSBREDF-II fund has committed an investment of INR 55 crore to complete the premium project, BKC 9.

Adani Enterprises started as a commodity trading business in 1988, specialising in agricultural goods and textiles. By the early 1990s, the company broadened its scope to include the import and export of both raw materials and finished products. Then, in the late 1990s, the company began diversifying across various sectors such as infrastructure, logistics and energy.

The head of BMW Group Designworks steered his car into a rest stop, highway traffic whizzing by in the background, and then dialed into his meeting. “I can’t concentrate on driving if I’m talking," says Holger Hampf, whose unit is internally known as “architects of the future." This pit stop, he says, happens to be an excellent example of what will change in the future. One day when cars can eventually drive themselves, executives will be able to sit back and work just as if they were in the office.

PTI quoted Vinod Kumar as saying. Meanwhile, a fresh bout of snowfall began in Ladakh on Monday. Known as 'Gateway to Ladakh', Drass – a tiny village in Kargil was covered in a white blanket of snow.