+
CPP Investments acquires additional stake in IndInfravit Trust
ROADS & HIGHWAYS

CPP Investments acquires additional stake in IndInfravit Trust

Canada Pension Plan Investment Board (CPP Investments) is acquiring an additional 15.9% of the total units in IndInfravit Trust, an infrastructure investment trust (InvIT) at a cost of Rs 1,005 crore.

Sponsored by L&T Infrastructure Development Projects (L&T IDPL), IndInfravit was launched in 2018, and it acquires and maintains stable brownfield road concessions in India. The stake is being bought through two separate deals.

According to the pension fund, CPP Investments has acquired 7% of the units from Sadbhav Infrastructure Project (SIPL) and will acquire an additional 8.9% from L&T IDPL, which, upon completion, will increase CPP Investments' stake in IndInfravit from 27.9% to 43.8%.

The combined investment amount of the two transactions is Rs 1,005 crore, the pension fund said. The transaction is expected to be completed by mid-May, subject to regulatory approvals, it said.

Currently, IndInfravit holds a portfolio of 13 operational road concessions across Karnataka, Maharashtra, Rajasthan, Tamil Nadu and Telangana. The roads have been operational, on average, for around seven years.

Scott Lawrence, Managing Director and Head of infrastructure, CPP Investments, told the media that the company has been invested in IndInfravit, the first private infrastructure investment trust of its kind in India, since its inception in 2018.

Image Source

Canada Pension Plan Investment Board (CPP Investments) is acquiring an additional 15.9% of the total units in IndInfravit Trust, an infrastructure investment trust (InvIT) at a cost of Rs 1,005 crore. Sponsored by L&T Infrastructure Development Projects (L&T IDPL), IndInfravit was launched in 2018, and it acquires and maintains stable brownfield road concessions in India. The stake is being bought through two separate deals. According to the pension fund, CPP Investments has acquired 7% of the units from Sadbhav Infrastructure Project (SIPL) and will acquire an additional 8.9% from L&T IDPL, which, upon completion, will increase CPP Investments' stake in IndInfravit from 27.9% to 43.8%. The combined investment amount of the two transactions is Rs 1,005 crore, the pension fund said. The transaction is expected to be completed by mid-May, subject to regulatory approvals, it said. Currently, IndInfravit holds a portfolio of 13 operational road concessions across Karnataka, Maharashtra, Rajasthan, Tamil Nadu and Telangana. The roads have been operational, on average, for around seven years. Scott Lawrence, Managing Director and Head of infrastructure, CPP Investments, told the media that the company has been invested in IndInfravit, the first private infrastructure investment trust of its kind in India, since its inception in 2018. Image Source

Next Story
Infrastructure Energy

UERC Rejects Pleas Over Cancelled 200 MW Solar Awards

The Uttarakhand Electricity Regulatory Commission (UERC) has rejected review petitions filed by 12 solar developers against the cancellation of Letters of Award (LoAs) issued under the state’s 200 MW Solar Programme.The scheme, launched by the Uttarakhand Renewable Energy Development Agency (UREDA) under the 2013 solar policy, aimed to help Uttarakhand Power Corporation Ltd (UPCL) meet its renewable purchase obligations through tariff-based competitive bidding.The projects—classified under the Type I category—had original commissioning deadlines in 2019–2020, later extended multiple ti..

Next Story
Infrastructure Energy

Solarium Wins Rs 266 Million Rooftop Solar Orders

Solarium Green Energy has secured two significant work orders valued at a combined Rs 266 million for rooftop solar projects across various locations in the Northeastern States, under the Ministry of Home Affairs.The first order, worth approximately Rs 129.8 million, was awarded by NTPC Vidyut Vyapar Nigam Limited (NVVN) for the development of a 3,319 kW rooftop solar photovoltaic (PV) project. This was tendered under the NVVN’s “Selection and Discovery of L1 Rates for Rate Contract for EPC of Grid Connected Rooftop Solar PV Projects (51–200 kW) across India”. The project is scheduled ..

Next Story
Real Estate

Omaxe Secures Rs 5 Billion From Oaktree For Expansion

Omaxe Group has raised Rs 5 billion in funding from Oaktree Capital Management LP, a global investment firm specialising in alternative investments, to fuel the development of ongoing projects and support future growth plans.In a regulatory filing dated 28 July, the company confirmed that the funds will support construction and infrastructure development across key markets, including New Chandigarh, Lucknow, Ludhiana, and Faridabad. The capital will also be directed towards flagship projects such as Omaxe State in Dwarka, an upcoming integrated township in Amritsar, and a new township in Indor..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?