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.