L&T sells stake in L&T Infrastructure Development Projects

Larsen & Toubro Ltd has completed the sale of its entire equity stake in L&T Infrastructure Development Projects Ltd (L&T IDPL) to Epic Concesiones Pvt Ltd., a joint venture between L&T and Canada Pension Plan Investment Board (CPP Investments) holding 51 per cent and 49 per cent shares, respectively.

According to the stock exchange filing, L&T IDPL and its subsidiaries have ceased to be subsidiaries of the company.

The list of subsidiaries of L&T IDPL:

  • Ahmedabad-Maliya Tollway Limited
  • L&T Deccan Tollways Limited
  • L&T Interstate Road Corridor Limited
  • L&T Rajkot-Vadinar Tollway Limited
  • L&T Samakhiali Gandhidham Tollway Limited
  • L&T Sambalpur Rourkela Tollway Limited
  • L&T Transportation Infrastructure Limited
  • L&T-Chennai Tada Tollway Limited
  • Panipat Elevated Corridor Limited
  • PNG Tollway Limited
  • Vadodara Bharuch Tollway Limited
  • Kudgi Transmission Limited
  • Watrak Infrastructure Private Limited; and
  • Rewin Infrastructure Limited

D K Sen, Advisor to CMD & Head – Development Projects, said, “The transaction is the culmination of a long journey for L&T that started in early 2000s in the Developmental Projects business and I have no doubt that the portfolio of good quality assets and team of IDPL will add value to Infrastructure Yield Strategy of Edelweiss Alternatives platform going forward. I would also like to thank the concession authorities and lenders to IDPL for their valuable support for to this divestment.”

The stock closed at ₹3,758.80 on the NSE on Wednesday’s trade, down by 0.70 per cent. The market is closed on April 11, 2024, Thursday, on account of Ramzan Id.

Crime Today News | Markets | Commodities | Forex | Stocks

Source | Powered by Yes Mom Hosting
Crime Today News Agency

Crime Today News

Welcome to Crime Today News, your trusted source for timely and unbiased news coverage. Since our inception in 2014, we have been dedicated to delivering the latest updates to our valued readers and viewers across Telangana.

Related Posts