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