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.