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IndInfravit Trust acquires road projects from Brookfield Asset Management

17 Jun 2023 Evaluate

IndInfravit Trust has completed the acquisition of 4 operational road projects from funds managed by Brookfield Asset Management Inc. (Brookfield) in an all - cash transaction valued at around $1 billion (Rs 82.7 billion).

IndInfravit Trust had earlier executed definitive agreements on June 10, 2022 with BIF India Holdings and Kinetic Holdings 1 - both companies owned by funds managed by Brookfield Asset Management, to purchase the equity shareholding of five operational road projects. Pursuant to this agreement, Indinfravit have completed the acquisition of Simhapuri Expressway (SEL), Rayalseema Expressway (REPL), Mumbai - Nashik Expressway (MNEPL) and Kosi Bridge Infrastructure Company (KBICL); collectively referred to as the Acquired Portfolio.  

IndInfravit Trust is among India’s first Infrastructure Investment Trusts (InvIT) to be listed on private placement basis on NSE and BSE in May 2018. It is one of the largest Indian InvITs in the roads sector with a network of approximate 5000 lane kms and operates and maintains 13 Build-Operate-Transfer (BOT) / Annuity Road Assets across 6 Indian states which handles a traffic volume of about 1,80,000 vehicles per day. 

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