Apis Partners LLP has decided to invest $110 million in LT Infra Debt, a subsidiary of Larsen Tourbo (L T). LT Infra Debt is an engineering and software company that endows money for infrastructure projects.
The private equity firm, Apis Partners will use Apis Growth Fund II to acquire a stake up to 25.1 per cent in LT IDF, the company apprised in a statement, as reported by the Indian daily news, VC Circle.
The company statement said that 70 per cent of the investment amount will be used in the form of growth capital for the non-banking unit, LT IDF and the remaining amount will be used to buy shares of L T.
The investment will be mainly used to refinance in L Ts infrastructure projects in India as the LTs investment arm, LT IDF will have access to low-cost foreign funding.
Matteo Stefanel, Co-founder and Managing Partner of Apis Partners, said the investment comes as India is projected to be the fastest growing infrastructure market over the next five years, as reported by the Indian daily news, VC Circle.
Dinanath Dubhashi, MD and CEO at LT Finance, said, LT IDF unit has built significant strengths in core areas of renewable energy, road and transmission financing, resulting in a high-quality loan book and consistent returns, as reported by the Indian daily news, VC Circle.