Apis Partners to invest in L&T IFD, aims for a 25% stake worth $110M
Category: #headlines  By Pankaj Singh  Date: 2019-04-27
  • share
  • Twitter
  • Facebook
  • LinkedIn

Apis Partners to invest in L&T IFD, aims for a 25% stake worth $110M

Apis Partners has signed a binding agreement for the acquisition of the stake and will be investing through one of its funds called Apis Growth Fund II.

UK-based venture capital firm Apis Partners has reportedly announced plans to acquire a 25 per cent stake in L&T Financial Holdings arm L&T IDF (Infra Debt Fund), for US$110 million.

Apparently, the proposed investment is aimed at supporting the growth of the loan book of L&T IDF across various sectors including renewable energy, airports, power transmission, roads and ports. In addition, the funding is likely to consolidate IDF’s technology, capital structure and digitization strategy. For those uninitiated, L&T IDF holds a loan book worth Rs. 8,000 crore.

Authentic sources reported that about 70% of the investment is growth capital for L&T IDF, while 30% would be deployed for a secondary transaction in which shareholders will exit their holdings. Sources further claimed that the partnership with Apis is anticipated to help IDF with gaining access to low-cost international fund sources that will be deployed for refinancing operational infrastructure projects in India.

L&T IDF’s Chief Executive Shiva Rajaraman stated that the Indian infrastructure market provides significant growth prospects for specialized re-financiers such as L&T IDF. He added that the company’s IDF platform will be in a better position to utilize these opportunities through the partnership with Apis Partners and remain a leader in key areas of the infrastructure refinancing space.

Dinanath Dubhashi, the Chief Executive & Managing Director of LTFH (L&T Finance Holdings), an IDF promoter, was reportedly quoted saying that the latest alliance with Apis reflects the value creation offered by India’s infrastructure financing space to the investors who keep looking for long-term sustainable returns. Apis Partners’ Managing Partner & Co-founder, Udayan Goyal, claimed that IDF holds an exceptional track record for refinancing high-potential infrastructure projects as well as raising funds at competitive rates.

Source Credits: https://www.businesstoday.in/top-story/apis-partners-plans-to-pick-25-stake-for-110-million-in-lt-infra-debt-fund/story/340410.html

https://www.thehindubusinessline.com/markets/lt-idf-to-raise-110-mn-from-apis-partners/article26943088.ece

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Pankaj Singh    

Pankaj Singh

With an experience as an insurance underwriter and a freelance writer under his belt, Pankaj Singh boasts of quite some expertise in the field of content creation. A qualified Post Graduate in Management, Pankaj has also completed a detailed course in Digital Marketin...

Read More

More News By Pankaj Singh

Merck acquires Calporta Therapeutics from COI Pharmaceuticals
Merck acquires Calporta Therapeutics from COI Pharmaceuticals
By Pankaj Singh

Merck will pay up to $576 million for the acquisition   Preclinical TRPML1 has the potential to treat neurodegenerative and lysosomal disorders COI Pharmaceuticals has recently announced that Merck, also called MSD outside Canada and the U...

Personalis unveils new service for cancer whole genome sequencing
Personalis unveils new service for cancer whole genome sequencing
By Pankaj Singh

  The new launch of the services will help the company expand its oncology portfolio Personalis has been able to sequence more than 40,000 MVP samples since 2013. Personalis, Inc., a leading advanced genomics firm for cancer, recently unve...

Celltrion depicts CT-P13 SC efficacy for treating rheumatoid arthritis
Celltrion depicts CT-P13 SC efficacy for treating rheumatoid arthritis
By Pankaj Singh

Celltrion Healthcare, a biopharmaceutical company, recently announced data from a study further investigating efficacy, safety, immunogenicity & pharmacokinetics of CT-P13 SC, over a period of 1-year treatment. The study focuses on the results ac...