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NHAI raises ₹600 crore more than the reserve price for TOT-5, Adani and DP Jain Infra set to bag contracts

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The National Highways Authority of India has raised around ₹630 crore more than the base price for it’s fifth round of TOT auctions, a senior official has said.
and DP Jain Infra, who quoted the highest price in the 5A-1 and 5A-2 packages last month, are now set to bag the respective bids.

NHAI at it’s board meeting on Thursday disclosed the reserve price for TOT-5. The authority received bids worths ₹2,252 crore, against a reserve price of ₹1,621 crore.

“NHAI in its board meeting on Thursday disclosed the reserve price for TOT-5, and both Adani and DP Jain Infra quoted higher,” a senior official aware of the developments told ET.

Adani Enterprises and DP Jain & Co Infrastructure emerged as the highest bidders for the fifth round of TOT auctions in February.

The bundle was divided into two parts — 5A-1 and 5A-2 – and both companies quoted the highest prices, respectively.

The reserve price of 5A-1 was ₹800 crore, while that for 5A-2 was ₹821 crore, the official said.

Indian Highways Concessions Trust, PATH, IRB and Cube Highways were the other bidders for the TOT bundles.

Three companies, including Indian Highways Concessions Trust, Adani and DP Jain infra had quoted higher than the reserve price.

Adani Enterprises placed the highest bid at Rs 1,011 crore for 5A-1, while Nagpur-based DP Jain & Co bid Rs 1,251 crore for the second part of the bundle.

NHAI had in September last year invited bids for the fifth TOT bundle package — its smallest ever tender for asset monetisation — without a base price, as it looked to discover better price bids for its operating assets.

Separate bids had been invited for the two bundles, each consisting of one National Highway stretch in Gujarat. The total length of the bundles is around 160 kilometres.

NHAI has had a successful TOT round after multiple attempts.

TOT Bundle-I consisting of nine projects totalling 681 km of highways was awarded in 2018.

While TOT-2 and TOT-4 were eventually cancelled, TOT-3 was awarded to Cube Highways for a price of ₹5,011 crore last year.

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Tagged Adani, base price, Cube highways, dp jain infra, National Highways Authority of India, TOT-5

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