In a high-stakes infrastructure play, Neo Infra Income Opportunities Fund has snapped up two operational road projects from CDS Infra Projects Limited in a ₹1500 crore transaction. The fund, registered under SEBI’s Category II AIF framework and managed by Neo Asset Management Private Limited, now holds full ownership of the assets — key segments of the 669-km Delhi-Amritsar-Katra Expressway.
The acquired stretches, developed under the National Highway Authority of India’s Hybrid Annuity Model, are strategically located across Haryana and Punjab. With this move, Neo positions itself firmly in the heart of India’s expanding toll-road and annuity-backed highway ecosystem.
Securities Purchase Agreements have been signed between Neo and CDS Infra, transferring the entire share capital of both road assets to the fund. The acquisition strengthens Neo’s infrastructure portfolio and marks a significant shift in private capital participation in national highway development.
Cyril Amarchand Mangaldas steered the legal strategy for Neo. The transaction was led by Ajay Sawhney (Head – Northern Region) and Aditi Misra, backed by a team comprising Aseem Sahni, Ragini Agarwal, and Aishik Majumder. Due diligence support was split across project finance, regulatory permits, employment, and insurance verticals — with specialists including Ravi Shah, Bhakti Madan, Pulkit Zamindar, and Vidhi Shah shaping the contours of the deal.
This acquisition is more than just a number — it’s a signal that India’s private road funding game is accelerating into the fast lane.
