IDFC Alternatives Exits Ashoka Buildcon (Asia)

Source: VCCircle

IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, has exited India-based Ashoka Buildcon, which constructs and operates roads and bridges on a build, operate and transfer basis. The firm started selling shares in Ashoka Buildcon in 2013 and recently completed its exit with a reported 2x return on its initial INR1 billion (approximately US$22 million) investment in 2006. Financial details of the transaction were not disclosed.