JP Morgan gets NICEr

Earlier Kalyani grp’s one of its kind BOOT vehicle for Bangalore Mysore NICE corridor got a JP Morgan investment of 10% in 2010 after the corridor was finally completed on Phase I and started collecting toll revenues. Today’s reports confirm that JP Morgan bought 8% out of the 11% billionaire Anil Ambani picked u[p in the Corridor before embarking on successful metro/Airport Link and INR 200 bln in highway projects nationally in 2004. At that time Anil Ambani valued the corridor at $15 mln for a 11% stake or less than $140 mln.

The 8% stake sale today on the other hand valued NICE at $812.5 mln and cost Airro Mauritius, one of JP Morgan’s offshore domiciled fund $65 mln 

Dealcurry also mentions other projects like 800 mln from Motilal Oswal’s PE unit for Udaipur’s (NH8) GR Infra and Hybrid Infra Portfolio of IDFC PE incl the Shillong bypass and other projects

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