Leading international investment funds led by Cube Highways and Infrastructure Pte. Ltd., Brookfield Corporation (TSX:BN) and Canada Pension Plan Investment Board (CPPIB) have joined the race to buy three road assets of Reliance Infrastructure Limited (BSE:500390) at a valuation of INR 20 billion. According to investment banking sources, Reliance Infrastructure has put on the block Pune Satara Toll Road (PS Toll Road) in Maharashtra, Hosur - Krishnagiri Toll Road (HK Toll Road) in Tamil Nadu, and Salem - Ulenderpet Toll Road (SU Toll Road) in Tamil Nadu.

The total length of the three toll roads is around 350 kilometres. The combined debt of these three toll road assets is INR 20 billion. Hence, with the successful closure of these transactions, the Reliance Infrastructure debt will come down by INR 20 billion, said a banker.