Neo Asset Closes Rs 2,300 Crunch Fund, Acquires First Toll Road

By: Sakshi Prakash

Date:

July 9, 2025

Neo Asset Management has successfully concluded the final close of its flagship Neo Infrastructure Income Opportunities Fund (NIIOF) at ₹2,300 crore, 15% above its initial ₹2,000 crore target. A SEBI-registered Category II AIF, NIIOF focuses on operational solar plants and NHAI road projects, targeting assets with stable, contractual cash flows.

As part of its investment strategy, the fund has already deployed or committed ₹1,200 crore across solar and road portfolios and is evaluating additional NHAI projects with a combined equity requirement exceeding ₹2,000 crore. The first acquisition under NIIOF is a 27.5‑km toll road on NH05 (Chandigarh–Shimla highway), boasting over a decade of operational history and promising steady toll revenues.

Hemant Daga, CEO & co‑founder, emphasised the fund offers domestic investors access to high-quality infrastructure, traditionally reserved for global capital, while contributing to India’s growth story. Neo Asset now manages over ₹13,500 crore across varied investment verticals, reinforcing its presence in India’s alternative investment ecosystem.

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