1st Toll Road Closure During Pandemic

Merger & Acquisition

Service

September 2020

Date

Infrastructure

Sector

INR 15,080 MN

Deal Value

1st Toll Road Closure During Pandemic

Deal Highlights:

  • The deal involves HCC Group selling 100% stake in Farakka Raiganj Highways Limited (“FRHL”) to Singapore based Cube Highways
  • This deal will be the first road asset closure amid the global pandemic and the on-going uncertainty around traffic on the toll road assets
  • The deal further strengthens our IB’s infrastructure franchise and once again demonstrates our ability to close marquee deals for quality clients, independent of the market environment
  • Combination of structures used for the first time in roads sector to enable future payouts

About FRHL:

  • FRHL had been awarded the project for four-laning of Farakka Raiganj section (approx. 100 km) of NH-34 in the state of West Bengal on Design, Build, Finance, Operate and Transfer (DBFOT) Toll basis by NHAI for a concession life of 30 years
  • FRHL is a wholly-owned subsidiary of HCC Concessions Limited, a HCC Group Company for developing and operating road projects

1Deal value indicates Enterprise Value which includes Equity Value of ₹ 6,030 mn