OMERS Infrastructure has acquired a 22.4 per cent stake in IndInfravit Trust sponsored by Larsen & Toubro’s subsidiary L&T Infrastructure Development Projects Limited (L&T IDPL), for ₹870 crore (C$160 million).
IndInfravit is an infrastructure investment trust listed via private placement in May last year. At the time of listing, Canada Pension Plan Investment Board (CPPIB) and Allianz Capital Partners (ACP) together acquired 55 per cent of units in the trust becoming its anchor investors.
IndInfravit has a portfolio of five operational toll road concessions granted by NHAI. The projects in Rajasthan, Karnataka, Tamil Nadu and Andhra Pradesh were initially constructed and operated by L&T IDPL.
