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Ashoka Buildcon holds 66% stake in Ashoka Concessions, with SBI Macquarie holding the rest. SBI Macquarie had invested Rs 800 crore in Ashoka Concessions in 2012 through Macquarie-SBI Infrastructure Fund. Once the deal is materialised, SBI Macquarie will get an exit, receiving about ₹1,200 crore.
Ashoka Concessions, a subsidiary of Ashoka Buildcon, is in talks with global funds including Canada's CDPQ, Macquarie, Cube Highways, and India's NIIF to sell its build-operate-transfer toll road assets. The negotiations come after a proposed transaction with KKR was terminated in May.
The toll fee collection at four plazas on the Vandalur-Minjur ORR began in January last year. However, after six months, the user fee was hiked by 10% on July 1 of the same year.