PE-backed IndInfravit Trust completed the acquisition of road assets business of SIPL for $890m.

Private equity-backed IndInfravit Trust, an infrastructure development trust, completed the acquisition of nine operational road assets from Sadbhav Infrastructure Project, an infrastructure development firm for $890m. “InvIT, as a structure has facilitated a new investor class with a keen interest to allocate large capital towards infrastructure landscape. InvITs, backed by marquee overseas investors, create the necessary ecosystem to support the government’s ambitious plan to develop high-quality infrastructure in the country," J Subramanian, L&T IDPL CEO.