IndInfravit Trust on June 16th, 2023 informed that it had completed the acquisition of four operational road projects from the funds managed by Brookfield Asset Management in an all-cash transaction valued at around USD 1 billion.
After the entire completion of the said deal, four assets were picked up, namely- Simhapuri Expressway, Rayalseema Expressway, Mumbai-Nashik Expressway and Kosi Bridge Infrastructure Company. The funding for the acquisition was via a rupee term loan, the issue of non-convertible debentures and the preferential issue of units to the unitholders namely, Canada Pension Plan Investment Board (CPP Investments) and OMERS Infrastructure. This platform-level acquisition is one of the largest in the domestic roads sector in recent times and is in line with IndInfravit’s growth strategy. At this stage, IndInfravit’s portfolio comprises projects with 7,300 lane km across eight states and strengthens its position as one of the leading infrastructure investment trusts in the country, told Pawan Kant, chief executive officer of LTIDPL IndvIT Services. The company is thoroughly backed by numerous global investors such as Canada Pension Plan Investment Board (CPP Investments), Ontario Municipal Employees Retirement System (Omers Infrastructure) and Allianz Capital Partners.
IndInfravit Trust is among those few which were first to be listed on a private placement basis on the NSE and BSE in May 2018 and stays one of the largest Invits in the roads sector till this date, along with a network of around 7,300 lane km. It currently operates and maintains 17 BOT/annuity road assets across eight states.