IndInfravit completes acquisition of 8 road SPVs from Sadbhav Infrastructure Project Ltd

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IndInfravit has announced the completion of transfer of stake in eight road projects from Sadbhav Infrastructure limited, a subsidiary of Sadbhav Engineering.

The eight road projects are operated by special purpose vehicles (SPVs). The SPVs are as follows :

  • Nagpur Seoni Expressway Limited
  • Hyderabad Yadgiri Tollway Pvt Ltd
  • Dhule Palesner Tollway Limited
  • Shreenathji-Udaipur Tollway
  • Bhilwara Rajsamanad Tollway
  • Bijapur-Hungund Tollway
  • Aurangabad Jalna Tollway
  • Mysore-Bellary Highway

The transaction is valued at INR 63000 million (US$ 838.21 million). The acquisition is being made through a mix of cash payment and the preferential issue of units of IndInfravit. Post completion of the transaction, Sadbhav will hold up to 10% units in IndInfravit.

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