Canada-based OMERS Infrastructure has picked a 22.4% stake in IndInfravit trust for a consideration of Rs 870 crore, the fund said in a media statement. OMERS’ investment in the infrastructure investment trust (InVIT) marks the fund’s first infrastructure investment in India.
IndInfravit holds a portfolio of five operational toll road projects – namely- Krishnagiri Thopur Toll Road, Western Andhra Tollways, Krishnagiri Walajahpet Tollway, Devihalli Hassan Tollway and Beawar Pali Pindwara Tollway. The five projects were constructed and initially operated by L&T Infrastructure Development Projects (IDPL). L&T IDPL is the sponsor for IndInfravit.
“IndInfravit is a platform well placed to play a key role in the future through additional investments in the road infrastructure in India,” OMERS said in its statement.
