Adani, DP Jain emerge as highest bidders for highways in TOT auction
In the fifth round of Toll-Operate-Transfer (TOT) auctions, Adani Enterprises and DP Jain & Co Infrastructure are the highest bidders for two bundles of highways.
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 totalling 158.6km.
Indian Highways Concessions Trust, PATH, IRB and Cube Highways had also bid for the bundles, the report said.
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 Asphalting & 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 bundle, which comprises highway stretches in Gujarat, was split into two parts – 5A-1 and 5A-2. Adani quoted the highest bid (Rs 1,011 crore) for 5A-1, and DP Jain had quoted (Rs 1,251 crore) for 5A-2, the report said.
“Six companies have submitted bids for both the bundles, and Adani and DP Jain emerged as the highest bidders,” a government official told The Economic Times.