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Gautam Adani’s races, toll roads in 2 states bought in a jiffy

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Adani Enterprises, a Gautam Adani Group company, has made a big deal related to the toll road. As part of this, the company’s subsidiary, Adani Road Transport Limited (ARTL), will acquire 100% of the capital of the Andhra Pradesh toll road portfolio, Swarna Tollway Private Limited (STPL), from Macquarie Asia Infrastructure Fund (MAIF). ). It will also acquire a 56.8% stake in Gujarat Toll Road Portfolio (GRICL).

The acquisition is at an enterprise value of Rs 3,110 crore. The portfolio under this deal also has an LTM EBITDA of ₹456 crore with a net debt of around ₹165 crore. Meanwhile, the deal is expected to be finalized by September.

Let us tell you that STPL has two toll roads in Andhra Pradesh. One on NH-16 which connects Tada with major ports like Nellore, Chennai and Krishnapatnam in Andhra Pradesh. It is 110 km. At the same time, there is a road extending 48 km from Nandigama to Ibrahimpatnam to Vijayawada on NH-65. It connects major metropolitan cities in the south and provides feeder traffic to NH16.

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Meanwhile, in Gujarat, GRICL has a toll road on SH-41 from Ahmedabad to Mehsana which is 51.6 km long. Apart from this, there is a road from Vadodara to Halol on SH-87 stretching for 31.7 km.

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