Larsen & Toubro revives InvIt market with new private listing

By Jonathan Breen
03 May 2018

Indian conglomerate Larsen & Toubro kicked off the listing of its infrastructure investment trust (InvIt) this week, pushing a novel private placement structure. Market participants predict that with the sponsor’s strong credentials, a desire for safe assets and a bigger investor pool, the deal could be the boost InvIts have been waiting for. Jonathan Breen reports.

IndInfravit, which consists of assets held under L&T Infrastructure and Development Project (IDPL), began a one-day bookbuild on Thursday, and is set to become the third InvIt to list in India. But the key difference with this transaction is its approach. IndInfravit has opted for a private ...

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