Lt Infrastructure Development Projects News Today

This acquisition is in line with the infrastructure yield strategy to generate regular distributions for investors by acquiring quality operating infrastructure assets with strong cash flows and unlocking value through active asset management, the company said in a statement.

Infrastructure Yield Plus Strategy, backed by Edelweiss Alternatives, purchased L&T's stake in the JV

Engineering major Larsen & Toubro (L&T) has announced the completion of the divestment of L&T...

Edelweiss Alternatives has completed a Rs 6,000 crore deal to acquire L&T Infrastructure Development Projects (LTIDPL), a joint venture owned by L&T and Canada Pension Plan Investment Board. The acquisition will give Edelweiss 100% ownership in the joint venture, which will include seven road assets and a 960 circuit km power transmission line.

Sensex ended 305 pts higher at 73,095 and Nifty rose 76 points to close at 22,198.

The Reserve Bank of India (RBI) has cancelled the certificate of registration of seven non-banking finance companies (NBFC), three from Chhattisgarh, two each from Karnataka and Madhya Pradesh. Separately, the central bank has said that 14 NBFCs have surrendered their certificate of registration (CoR), including L&T Infrastructure Development Projects Limited.

One factor that weighed on operating profit was the higher staff costs for the information technology services business.

Get latest articles and stories on Business at LatestLY. With this, L&T will divest its entire stake in the concession subsidiary, L&T IDPL. This is in line with L&Ts strategy of reducing its exposure to the non-core asset-heavy developmental projects portfolio, according to a statement from Larsen and Toubro. Business News | Edelweiss Alternatives Acquires L-T Infrastructure Development Projects.

Larsen and Toubro sold its 51% stake in L&T Infrastructure Development Project to Edelweiss Alternatives portfolio company

The JV owned eight roads and one power transmission asset in India.