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roads

Roads

SBICAP has advised on capital raising and growth strategy, and provides all-encompassing investment banking services for fundraising and M&A in the roads sector. As financial advisors and mandated lead arrangers, we have worked closely with enterprises in this segment, and on both national highway and state road highway projects.

Leading India’s Infrastructure Development

With a keen focus on building the country’s infrastructure, SBICAP offers the entire gamut of investment banking services for fundraising and M&A in the roads sector. Over the years, we have developed direct links with a number of multilateral agencies and international financial institutions and built strong relationships with central and state governments, PSUs, private sector businesses, and banks. This helps us offer comprehensive services for the most complex projects. 

Notable transactions:

  • Sole financial advisor and mandated lead arranger for the largest debt syndication for a road project in India – Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg (Nagpur Mumbai Expressway). The project is expected to halve the travel time between Nagpur and Mumbai and is estimated at INR 55,477 crore, proposed to be funded with a debt facility of INR 28,000 crore and equity sponsor’s contribution of INR 27,477 crore. SBICAP has successfully syndicated the entire project debt.
  • Sole advisor to the Mumbai Pune Expressway Limited, for appointment of a contractor for Tolling, Operation, Maintenance and Transfer (TOT) of Yashwantrao Chavan Expressway & National Highway NH-48 (Old NH-4) in the state of Maharashtra. IRB MP Expressway Private Limited (part of IRB Infrastructure Developers Limited) has been selected as the sub-concessionaire for the period of 10.2 years for a consideration of INR 8,262 crore with an upfront payment of INR 6,500 crore.

Some of the clients we have worked with

CUBE Highways

Mumbai Pune Expressway Limited

Lanco Devihalli Highways Limited

Dilip Buildcon Limtied

Select Transactions

CUBE Highways
Value: INR 3,907 Cr
M&A Advisor
2021
Mumbai Pune Expressway Limited
Value: NA
Bid Process Advisor
2021
Lanco Devihalli Highways Limited
Value: NA
M&A Advisor
2020
NAM Expressway Limited
Value: INR 507 Cr
Refinancing Advisory
-

Expanding The Road Networks, Improving Connectivity

SBICAP advises the leading names in this sector on their capital raising and growth strategy, reaffirming our focus on driving the country’s infrastructure development. We have been a part of the National Highways Development Project and have supported different state governments in their work to improve rural and state road networks, while actively working with enterprises such as G R Infraprojects Limited and H.G. Infra Engineering Limited. We have raised INR 1424 crore in 2 noteworthy transactions in this space.

Some of the clients we have worked with

Maharashtra State Road Development Corporation Limited

GR Infraprojects Limited

H.G. Infra Engineering Limited

Select Transactions

Maharashtra State Road Development Corporation
Value: INR 28,000 Cr
Debt Syndication
2021
G R Infraprojects Limited
Value: INR 962.3 Cr
IPO
2021
H.G. INFRA ENGINEERING Limited
Value: INR 462 Cr
All Equity Capital Market Transaction
2018

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