Mumbai, June 7, 2020:
Edelweiss Infrastructure Yield Plus (YIELD+) an AIF managed by Edelweiss Alternative Asset AdvisorsLtd. (EAAA), along with its portfolio company Sekura Roads Limited (SRL) today announced the acquisition of two annuity road assets -Navayuga Dhola Infra Projects Limited (in Assam) and Navayuga Dibang Infra Projects Private Limited (in Arunachal Pradesh). These assets have been acquired from NavayugaRoad Projects Private Limited (NRPPL) a subsidiary of NavayugaEngineering Company Limited (NECL), making this one of the first infrastructure deals closed in the current lockdown environment.SRL is theroad and highwayinfrastructure platform of YIELD+, focused on acquiring operating road assets.With the acquisition of these road assets Sekura Roads start its journey to become one of the leading asset owners and investors in the road sector.YIELD+ is looking to contribute in a sustainable manner to the growing infrastructure assets needs of India by helping the Indian infrastructure companies to recycle their capital and focus on their core construction business. The acquisition of these assets by YIELD+ is a testament to its willingness, ability and capability to complete transactions despite the prevailing challenging conditions. With an AuM of over Rs. 28,000 crores, EAAA focuses on providing long term growth capital to corporates. “Acquiring operating infrastructure assets provides impetus to the revival of the sector by helping construction companies to release capital and de-lever, enabling them to commence new projects which contribute to nation building and is becoming the core model to meet India’s infrastructure capital requirement” said Hemant Daga, Deputy CEO, Edelweiss Global Investment Advisory“We are happy to see the acquisition of these high-quality road assets to the Sekura Roads portfolio. This is in line with our strategy of investing in Infrastructure assets which can deliver predictable long-term yield to our investors. We now have a healthy portfolio of operating transmission and operating annuity road assets,” said Subahoo Chordia, Head of Edelweiss Infrastructure Yield Plus.Confirming the development Sachin Bhansali, CFO,Navayugagroup said“Navayugagroup is looking to de-leverage its balance sheet and assetmonetization isa critical component. This transactionwill significantly ease out the debt position of the group and help free up cash.” With the government’s thrust on boosting economic activity in North Eastern India, the Dhola and Dibang roads are of strategic importance because they ensure seamless all-weather connectivity between North East and Rest of India. The Dhola bridge -the country’s longest river bridge, inaugurated by Prime Minister Narendra Modiin 2018has openednew doors for economic development to both the states of Assam and Arunachal Pradesh.
