IDFC's latest status on Gurgaon highway deal

Q: What’s happening with the Gurgaon highway deal, there seems to be a lot of back and forth happening.

Hemant, Noida

13th August 2013

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Yes, the latest on this is that IDFC which was supposed to buy out 74% stake in the Delhi-Gurgaon expressway from the concessionaire DSC seems to have backed out at the last minute.

Tamal, Noida

13th August 2013

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Oh! That’s news to me, any particular reason for backing out?

Hemant, Noida

13th August 2013

Actually, there was a time when IDFC badly wanted to buy a stake in this project and at that time the laws prevented them from buying although the stake was huge, a controlling stake by taking on the debt of Rs 1,600 crore for a token Re 1. And to answer why they are backing out, they are just not interested to buy a stake now, their priorities have changed I guess.

Tamal, Noida

13th August 2013

But why did the NHAI decide to give a stake in the first place?

Hemant, Noida

13th August 2013

See the NHAI was dissatisfied with the way in which the expressway was being operated and the disagreements that it had with the concessionaire. So, the change of ownership was seen as a solution to the problem.

Tamal, Noida

13th August 2013