Adani, DP Jain submit highest bids for highways in TOT auction: Report

Stocks

Indian Highways Concessions Trust, PATH, IRB and Cube Highways had also bid for the bundles up for sale in NHAI’s fifth TOT auction.

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In the the fifth round of Toll-Operate-Transfer (TOT) auctions, Adani Enterprises and DP Jain & Co Infrastructure are the highest bidders for two bundles of highways.

However, the National Highways Authority of India (NHAI) has not disclosed the reserve price, The Economic Times reported. The companies will receive the contracts only if their quotes are higher than the reserve price.

The bundle, which comprises highway stretches in Gujarat, was split into two parts – 5A-1 and 5A-2. Adani quoted the highest bid (Rs 1,011 crore) for 5A-1, and DP Jain had quoted (Rs 1,251 crore) for  5A-2, the report said.

Moneycontrol could not independently verify the story.

“Six companies have submitted bids for both the bundles, and Adani and DP Jain emerged as the highest bidders,” a government official told The Economic Times.

“This doesn’t mean they have won the bids already. The reserve price of the auction is sealed and will be revealed in NHAI’s board meeting next month,” the official added.

Indian Highways Concessions Trust, PATH, IRB and Cube Highways had also bid for the bundles, the report said.