Sadbhav Infra sells 9 operational road projects for Rs 6,610 crore

Sadbhav Infrastructure Project (SIPL) signed definitive agreements with IndInfravit Trust, an InvIT sponsored by L&T Infrastructure Development Projects (L&T IDPL), to sell its entire equity shareholding in nine operational road projects to IndInfravit for an enterprise value of about Rs 6,610 crore.

The move is significant, claim analysts, as it will help deleverage the balance sheet of Sadbhav Engineering and give Sadbhav Infrastructure access to capital for pending equity needs.