Liquidity Events
Kotak Alts nets 2x return with Rs.1,650-Cr sale of HKR Roadways to Cube Highways
Mumbai-based Kotak Alts has realized a twofold return on its investment in HKR Roadways, generating INR 1,650 crore from the sale of the asset to Cube Highways and Infrastructure V. This exit follows a five-year period during which the firm worked to transform the infrastructure asset.HKR Roadways is a special purpose vehicle (SPV) that operates a 206 km four-lane state highway project in Telangana under a build-operate-transfer (BOT) toll concession that extends to February 2041. The project includes three toll plazas on a corridor that connects Telangana to neighbouring states Chhattisgarh and Maharashtra.
In Apr 2021, HKR Roadways had attracted about $ 98 M from Kotak Alternate.
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