L&T projects to Edelweiss fund for Rs 7000 crore

26 Jul 2022 CW Team

Alternative Asset Advisors was valued at their company at Rs 7,000 crore. The National Highways Authority of India (NHAI) and the Securities and Exchange Board of India (Sebi) must yet approve the transaction before it can be made public. One asset for power transmission is also included in the sale.

The sale is a component of L&T's asset-light strategy, which has already seen the corporation sell off a number of non-core assets. Concessions held by L&T Infrastructure Development Projects Ltd (L&T IDPL) were also included in that list. Sekura Roads and Sekura Energy are the two operating platforms for the Edelweiss infrastructure fund.

IndInfravit Trust, an infrastructure investment trust (InvIT) that L&T IDPL floated in 2018, attracted important unit holders Allianz Capital Partners, Canada Pension Plan Investment Board, and OMERS Infrastructure. Currently, IndInfravit owns a portfolio of 13 functioning road concessions in five states totaling around 5,000 lane kilometres.

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L&T Realty signs three cooperative agreements in Mumbai

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