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Actis-backed India highways InvIT raises $182 mn

VCCircle

VCCircle · 1y ago

Actis-backed India highways InvIT raises $182 mn

India highways InvIT, a highway infrastructure investment trust backed by Actis, a UK private equity firm, has successfully raised $182 million from multiple investors. The funds were generated through the sale of 152 crore units of the trust to domestic institutional investors, including mutual funds and corporate treasuries. The investment will support the development and maintenance of India's highway infrastructure.

Related News

Bottomline: How PE-backed Cube Highways’ InvIT performed in its first year of listing

VCCircle

VCCircle · 1y ago

Bottomline: How PE-backed Cube Highways’ InvIT performed in its first year of listing

Cube Highways Trust, the infrastructure investment trust (InvIT) backed by private equity firm I Squared Capital, generated a yield of slightly over 10% from its portfolio and saw toll revenue growth of nearly 12% in its first year of listing, FY24. The InvIT experienced consolidated performance across its portfolio of highways and road concessions in India.

Grapevine: ITC, Aditya Birla Group, NHAI InvIT, Morarjee Textiles in news

VCCircle

VCCircle · 6m ago

Grapevine: ITC, Aditya Birla Group, NHAI InvIT, Morarjee Textiles in news

ITC Ltd is reportedly ahead in acquiring a paper and pulp manufacturer from the Aditya Birla Group. Meanwhile, three parties are interested in acquiring the bankrupt Morarjee Textiles Ltd. Additionally, the infrastructure investment trust (InvIT) backed by the National Highways Authority of India (NHAI) aims to raise new capital.

Investcorp-backed NDR Warehousing lists InvIT after $106 mn issue

VCCircle

VCCircle · 1y ago

Investcorp-backed NDR Warehousing lists InvIT after $106 mn issue

NDR Warehousing Pvt. Ltd, backed by Bahrain-based Investcorp, has listed India's first perpetual warehousing and industrial parks infrastructure investment trust (InvIT) on the National Stock Exchange. The InvIT, named NDR InvIT Trust, saw investors fully subscribing to privately placed units worth $106 million. Investcorp led a $55 million investment round in NDR Warehousing in February 2022. The InvIT will manage 33 warehouses across India, with Investcorp holding a 21.31% ownership interest in the trust.

Canadian pension funds CPPIB, OTPP invest $438 mn more in India roads portfolio

VCCircle

VCCircle · 1y ago

Canadian pension funds CPPIB, OTPP invest $438 mn more in India roads portfolio

Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan (OTPP) have invested a combined total of $438 million in an infrastructure investment trust (InvIT) sponsored by the National Highways Authority of India (NHAI). This marks the third investment by the two pension funds in NHIT, bringing their total commitment to $878 million. The funds will continue to own 25% of the trust after this latest investment. The additional capital raised will be used by the InvIT to acquire seven road concessions in India, expanding its portfolio to 15 toll roads across multiple states.

KKR’s India highways InvIT gets $797 mn contract

VCCircle

VCCircle · 11m ago

KKR’s India highways InvIT gets $797 mn contract

KKR & Co's infrastructure investment trust (InvIT) has been awarded a government contract worth $797 million for a 252-km stretch of highways in India. The contract was won by the KKR-sponsored Highways Infrastructure Trust (HIT), which emerged as the highest bidder. The stretch is part of the Hyderabad-Nagpur corridor in the state of Telangana. The concession period for the toll-operate-transfer project is 20 years. The contract was awarded through the toll-operate-transfer (TOT) mode as part of the Indian government's efforts to encourage private participation in the highway sector.

Shrem InvIT moves forward with over $450 mn highway deal

VCCircle

VCCircle · 1y ago

Shrem InvIT moves forward with over $450 mn highway deal

Shrem InvIT, a highways infrastructure investment trust, is set to acquire five operational road projects across multiple states in India. The deal, valued at over $450 million, will strengthen Shrem InvIT's portfolio and expand its presence in Uttar Pradesh, Bihar, Haryana, Maharashtra, Andhra Pradesh, Tamil Nadu, Jharkhand, and Delhi-National Capital Region. The acquisition is expected to enhance the trust's position in the infrastructure sector.

Canadian pension funds CPPIB, OTPP invest another $485 mn in NHAI InvIT

VCCircle

VCCircle · 5m ago

Canadian pension funds CPPIB, OTPP invest another $485 mn in NHAI InvIT

Canadian pension funds CPPIB and OTPP have invested $485 million in the National Highways Authority of India's infrastructure investment trust (NHAI InvIT) as part of an $8,340 crore equity fundraising round. Other contributors include Indian pension funds, insurance companies, and financial institutions. This marks the fourth investment by CPPIB and OTPP in NHIT, totaling Rs 11,520 crore. The funds will acquire road concessions across India, expanding NHIT's toll road operations significantly.

NHAI eyes two firsts to raise ₹60,000 crore this fiscal

Livemint

Livemint · 2m ago

NHAI eyes two firsts to raise ₹60,000 crore this fiscal

The National Highways Authority of India (NHAI) plans to raise ₹20,000 crore through two phases of its infrastructure investment trust (InvIT) in FY26. Additionally, it intends to auction completed highway stretches to private InvITs, aiming to generate up to ₹60,000 crore throughout the year. This initiative follows the success of past offerings, with NHAI previously raising ₹43,638 crore since launching the highway InvIT programme in 2020.

Spotlight: CPPIB-backed NHAI InvIT on a smooth ride but faces a few bumps

VCCircle

VCCircle · 1y ago

Spotlight: CPPIB-backed NHAI InvIT on a smooth ride but faces a few bumps

The National Highways Authority of India (NHAI) recently announced a new corporate strategy for its infrastructure investment trust (InvIT), National Highways Infra Trust (NHIT). While this rebranding is not a major development on its own, it highlights the challenges faced by NHIT in attracting investors due to concerns about the performance of the Indian toll road sector. However, the backing of the Canada Pension Plan Investment Board (CPPIB) provides some reassurance and may help attract more investment.

Actis ramps up India roads portfolio with $92-mn deal

VCCircle

VCCircle · 10m ago

Actis ramps up India roads portfolio with $92-mn deal

- Actis, a UK-based private equity firm, has acquired an 89-km highway project in India for Rs 775 crore ($92.3 million). - This acquisition is aimed at expanding Actis' India roads portfolio. - The deal was made in collaboration with American growth investor General Atlantic. - The acquisition is expected to be completed in the next 15 months. - The acquisition will contribute to Actis' growth strategy in the Indian market.

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