ISQ to acquire Rajasthan toll road

I Squared Capital, through its ISQ Global Infrastructure Fund, has agreed to acquire 100 per cent stake in Jaipur Mahua Tollways Pvt Ltd from IJM Corporation, Malaysia, for Rs 525 crore (as disclosed by IJM Corporation to Bursa Malaysia). I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport. ISQ has a global infrastructure fund with over $2 billion. It has a Singapore-based platform, which invests in roads and infrastructure projects, primarily in India. The acquisition initially will be for a 74 per cent ownership interest, with the remaining 26 per cent subject to approval from the NHAI. The toll road operates under a 25-year concession to toll, operate and maintain a 109 km stretch of NH 11 in Rajasthan.