L&T IDPL to add two road assets to its InvIT portfolio
.jpg)
L&T Infrastructure Project Development Company (IDPL), a subsidiary of Larsen & Toubro, plans to soon add two of its road assets to the portfolio of its infrastructure investment fund (InvIT), Indinfravit Trust, a senior official with knowledge of the matter said.
“We plan to keep generating deal flow for the InvIT, as we see no shortage of money coming from international players. The plan is to make two operational highway projects a part of the Indinfravit soon. Seven more are in the pipeline for the next five financial years,” the official said L&T IDPL had launched its privately-placed Indinfravit Trust in May 2018 with Canada Pension Plan Investment Board (CPPIB) and German investment firm Allianz Capital Partners as anchor investors.
CPPIB invested around 200 million Candadian dollars, picking up a 30% stake, while Allianz picked up a 25% stake in the InvIT. L&T IDPL held a 15% stake in the fund. In February, Canadian investment firm OMERS Infrastructure Management picked up a 22.4% stake in Indinfravit Trust.
Other Latest News
.webp)
As the results for the Maharashtra polls will be announced tomorrow, Shiv Sena (UBT) leader Sanjay Raut on Friday exuded confidence in the victory of the Maha Vikas Aghadi (MVA), saying that around 160-165 MLAs will be elected from MVA.
Reacting to the speculations of the CM face from Maha Vikas Aghadi, Raut asserted that no formula has been made yet for the selection of the CM face as everyone will sit together and choose the CM.
.webp)
The Supreme Court on Friday issued a notice to the Enforcement Directorate (ED) in response to a petition from former Delhi Deputy Chief Minister and Aam Aadmi Party (AAP) leader Manish Sisodia. Sisodia sought a relaxation of the bail condition that mandates him to appear before the investigating officer every Monday and Thursday.
An SC bench of Justices BR Gavai and KV Viswanathan said that it would make a decision on the matter during the next hearing without any adjournment.
.webp)
Kenya's president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.
President William Ruto in a state of the nation address said the decision was made based on new information provided by our investigative agencies and partner nations. He didn't specify the United States.
.webp)
Asserting that the relationship between India and the US is built on a strong foundation, the White House has expressed confidence that it can navigate the ongoing crisis surrounding bribery charges against Indian billionaire Gautam Adani.
At her daily news conference, White House Press Secretary Karine Jean-Pierre told reporters on Thursday that the administration is aware of the charges against Adani.
.webp)
Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
.webp)
.webp)
.webp)
.webp)
