According to industry sources, the approximate value of the transaction could be around $150 million (about Rs 1,125 crore).
is theroad and highway infrastructure platform of the fund, focused on acquiring operating road assets.
"With the acquisition of these road assets, Sekura Roads
starts its journey to become one of the leading asset owners and investors in the road sector.
"The fund is looking to contribute in a sustainable manner to the growing infrastructure assets needs of the country by helping the Indian infrastructure companies
to recycle their capital and focus on their core construction business," the company said.
With assets of over Rs 28,000 crore under management, Edelweisse focuses on providing long term growth capital to corporates, it said.
"Acquiring operating infrastructure assets provides impetus to the revival of the sector by helping construction companies
to release capital and de-lever, enabling them to commence new projects which contribute to nation building and is becoming the core model to meet India's infrastructure capital requirement," Edelweiss
Global Investment Advisory Deputy CEO Hemant Daga said.
The acquisition of these assets by the fund is a testament to its willingness, ability and capability to complete transactions despite the prevailing challenging conditions, he added.
"This acquisition is in line with our strategy of investing in infrastructure assets which can deliver predictable long-term yield to our investors. We now have a healthy portfolio of operating transmission and operating annuity road assets,"Edelweiss
Infrastructure Yield Plus HeadSubahoo Chordia said.
Commenting on the deal, Navayuga Group CFO Sachin Bhansali said,"We are looking to de-leverage our balance sheet and asset monetisation isa critical component. This transaction will significantly ease out the debt position of the group and help free up cash."
With the government's thrust on boosting economic activity in north eastern India, the Dhola and Dibang roads
are of strategic importance because they ensure seamless all-weather connectivity between north east and rest of India, the release said.