HC1 is a platform that manages GIP’s India road portfolio across seven states—Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu and Telangana. Recent infrastructure investments in India include India Grid Trust (IndiGrid), an infrastructure investment trust, and Virescent Infrastructure, a renewable energy company. This is the second time GIP has attempted to sell the HC1 road portfolio. The construction of roads was funded by IDFC Alternatives’ second infrastructure fund, which was acquired by GIP in 2018. KKR will use the HC1 platform to acquire more roads in India, across toll, annuity and hybrid annuity model roads, the person said.

Source: Mint July 05, 2021 17:03 UTC