Investment firm KKR and Canada's Ontario Teachers' Pension Plan on Tuesday offloaded more than 25.17 crore units of Vertis Infrastructure Trust for a combined value of Rs 2,468 crore through open market transactions.
Infrastructure major Larsen & Toubro, L&T Technology Services, LTI Mindtree, Phillip Services India, ICICI Prudential Mutual Fund (MF), WhiteOak Capital MF, Kotak Mahindra Life Insurance, 360 ONE Prime, Tata AIG General Insurance and National Pension System Trust were among the buyers of Vertis Infrastructure Trust's units.
According to the bulk deal data available on the NSE, US-based KKR through its affiliate Galaxy Investments II Pte Ltd sold 20.48 crore units of Mumbai-based Vertis Infrastructure Trust.
In addition, Ontario Teachers' Pension Plan (OTPP) through its arm 2452991 Ontario Ltd offloaded nearly 4.7 crore units of Vertis Infrastructure Trust.
The OTPP is a multi-employer pension plan, jointly sponsored by the Ontario government and the Ontario Teachers' Federation.
The transaction was valued around Rs 2,467.69 crore, and was executed in the price range of Rs 98.01-98.02 per unit, as per the NSE data.
According to the data, KKR owned a 71.66% stake in the InvIT. OTPP is the second largest shareholder with a 24.99% stake.
Vertis Infrastructure Trust, formerly Highways Infrastructure Trust, is a a SEBI-registered infrastructure investment trust (InvIT). The InvIT has assets under management worth Rs 250 billion. It operates 27 projects across nine states.
The infrastructure investment trusts (InvITs) holds infrastructure assets such as toll roads, renewable projects and transmission lines.
The units of Vertis Infrastructure Trust closed lower at Rs 98.20 per unit on the NSE.
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