New Delhi, Jun 13 (PTI) Infrastructure investment trust (InvIT) Indian Highway Concessions Trust, which is owned by Canada's pension fund CPDQ, is looking to raise Rs 910 crore on a private placement basis.

InvITs is a relatively new investment instrument in the Indian context but is extremely popular in global markets. It comprises a portfolio of infrastructure assets such as highways and power transmission assets.

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Indian Highway Concessions Trust (the Trust) is proposing an initial offer of up to 9.1 crore units through a private placement at a price of Rs 100 per unit, aggregating up to Rs 910 crore, according to the preliminary placement memorandum.

Indian Highway Concessions Trust is sponsored by Maple Highways Pte Ltd, a wholly-owned subsidiary of CDPQ Infrastructures Asia Pte. Ltd., which in turn is a wholly owned subsidiary of Caisse de dépôt et de placement du Québec (CDPQ).

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As of December 2021, CDPQ invested around USD 7.5 billion in India across different asset classes, including infrastructure, fixed income, private equity, public equity and real estate.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)