IDFC takes minority stake in GVR Infra

The transaction reportedly marks only the third roads investment IDFC has made since its launch eight years ago. The firm currently manages $1.3 billion across three funds, from which it has made 32 investments across 28 companies, according to IDFC's website. The outfit was set up by the Indian government to jumpstart investment from the private sector in infrastructure development. Its current investments include the Delhi International Airport, Gujarat Pipavav Port, Suzlon Energy and GMR Energy.

GVR largely focuses on India's road system, including national and state highways. According to its website, its planned road projects include developments in Gujarat, Maharashtra, Orissa, TN, AP and Karnataka.

"While GVR is proud of its achievements in a short span of 11 years, we believe that the potential for growth is immense and there is still a lot more to be achieved," GVR Managing Director K. Ganga Prasad said in a statement. "We are passionate about infrastructure and are extremely delighted to have an experienced investor like IDFC PE as our partner."

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• Topics
• South Asia
• Infrastructure
• IDFC Private Equity