Mumbai, April 25 (IANS) L&T Finance Holdings Ltd (LTFH) and UK-based Apis Partners LLP on Thursday announced $110 million equity investment in L&T Infrastructure Debt Fund Ltd (LTIDF).
Through the investment, Apis Growth Fund II, a private equity fund managed by Apis Partners, will acquire up to 25.1 per cent stake in LTIDF, according to a company statement.
"Of the total investment, 70 per cent is in the form of growth capital for LTIDF and 30 per cent for purchase of shares from existing shareholders (subsidiaries of LTFH)," it said.
According to the LTIDF, the investment will support growth of its loan book focused on infrastructure projects in India, strengthen capital structure and further technology and digitisation strategy.
"This long-term partnership will support the company in accessing low-cost international sources of funds, which will be used to refinance operational infrastructure projects in India," it said.
The LTIDF, an infrastructure non-banking finance company, provides long-term refinancing to private sector and public private partnership infrastructure projects.
The company said its loan book size was about Rs 8,000 crore with zero non-performing assets.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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