Ashoka Buildcon - Monetisation Efforts Yielding Results: Anand Rathi

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Anand Rathi Report.Ashoka Buildcon Ltd. said that, its build-operate-transfer holdco, Ashoka Concessions Ltd., has entered a deal with an affiliate of funds, vehicles and entities managed and/or advised by Kohlberg Kravis Roberts and Co. LP to monetise five of its BOT-toll assets for ~Rs 13.37 billion (subject to adjustment for movement in cash and debt). Ashoka Buildcon expects to consummate the deal by September 2022.Though the deal consideration is ~0.6 times of the total exposure, benefits outweigh the valuation discount. The market-perceived risk of the debt-funded buy-out of the partner’s share in the BOT holdco, if monetisation efforts fail to fructify, has long been a drag on valuations. The deal, we believe, would help do away with this.Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Ashoka Buildcon - Monetisation Efforts Yielding Results: Anand Rathi

Ashoka Buildcon - Monetisation Efforts Yielding Results: Anand Rathi

Choose a plan