Global Infrastructure Partners (GIP) is reportedly selling its Indian road platform, called Highway Concessions One Pvt. Ltd (HC1), having hired Citibank to manage the sale.

HC1 comprises seven road assets - five toll roads and two annuity-based projects located across seven Indian states in India. In total, the platform owns 472 route km and consolidated revenue of INR6.2 billion (US$88.6 million).

GIP acquired the HC1 portfolio from IDFC Alternatives Ltd’s infrastructure investment business, which was brought by GIP in July 2018.

Canada’s Caisse de dépôt et placement du Québec (CDPQ) is thought to be interested in the platform and likely to submit a bid.