Hyderabad based Madhucon Projects has sold its Madhucon Agra- Jaipur Expressways Ltd (MAJEL) to Singapore-based Cube Highways and Infrastructurefor Rs 248 crore.
- Cube Highways will acquire 74% equity stake while the balance 26 % equity stake will be acquired after getting a nod from the National Highway Authority of India (NHAI).
About Madhucon
Madhucon Infra is the Infrastructure development arm of Madhucon Group. Mumbai-based investment bank Equirus Capital acted as theexclusive advisor to the Madhucon Group for the transaction, while law firm Nishith Desai Associates was the legal counsel.
Madhucon Infra is the Infrastructure development arm of Madhucon Group. Mumbai-based investment bank Equirus Capital acted as theexclusive advisor to the Madhucon Group for the transaction, while law firm Nishith Desai Associates was the legal counsel.
- MAJEL is an operational BOT toll project between Bharatpur and Mahwa in Rajasthan connecting the two key tourist destinations of Agra in Uttar Pradesh and Jaipur in Rajasthan.
- The MAJEL project started its commercial operations in May, 2009.
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