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

Related Stories

Gold Stories

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 86574 75330

Join us Telegram

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back