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Larsen & Toubro (L&T) has acquired 2.0875 crore units of Mumbai-based Nxt-Infra Trust for approximately INR 199 crore through an open market transaction, according to bulk deal data on the National Stock Exchange. The infrastructure major purchased the units at an average price of INR 95.33 per unit on August 18. A K Capital Finance sold more than 2.10 crore units at the same price, taking the value of its transaction to INR 200.67 crore. Nxt-Infra Trust is a Securities and Exchange Board of India-registered Infrastructure Investment Trust (InvIT) sponsored by Actis Highway Infra.
Larsen & Toubro (L&T) has acquired more than two crore units of Nxt-Infra Trust for approximately INR 199 crore through an open market transaction, according to bulk deal data published by the National Stock Exchange (NSE). The transaction was executed on August 18, while Nxt-Infra Trust units were trading 1.03% higher at INR 98 on the NSE on August 19.
L&T purchased 2,08,75,000 units of the Mumbai-based infrastructure investment trust at an average price of INR 95.33 per unit. The transaction value based on the reported purchase price stood at approximately INR 199 crore.
On the other side of the transaction, A K Capital Finance sold more than 2.10 crore units of Nxt-Infra Trust at the same average price of INR 95.33 per unit. The sale amounted to approximately INR 200.67 crore.
The exchange data did not identify the other buyers involved in the Nxt-Infra Trust transactions. The bulk deal disclosure provides details of the units purchased by L&T and those sold by A K Capital Finance, along with the transaction price and volume.
Nxt-Infra Trust is a Securities and Exchange Board of India (Sebi)-registered Infrastructure Investment Trust, or InvIT. The trust is sponsored by Actis Highway Infra Ltd, which is part of Actis Group, an international investment firm focused on infrastructure and other long-term assets.
InvITs are structured investment vehicles that hold infrastructure assets and provide investors with an avenue to participate in infrastructure-related cash flows. The structure enables infrastructure assets to be held through a trust, with investors holding units in the vehicle.
Actis Highway Infra forms part of Actis Group, which was established in 2004 following its spin-out from CDC Group plc. The group invests internationally across several asset classes, including energy infrastructure, long-life infrastructure, digital infrastructure and real estate.
L&T’s purchase adds to the infrastructure major’s exposure to the listed InvIT segment. The transaction was conducted through the open market rather than through a primary issuance of new units by Nxt-Infra Trust, meaning the units acquired by L&T were transferred from an existing holder.
The acquisition also coincided with trading activity in Nxt-Infra Trust units on the NSE. Following the transaction, the units were quoted at INR 98 on August 19, representing a 1.03% increase from the previous trading level.
The transaction comes as India’s infrastructure investment market continues to use InvIT structures to facilitate ownership and investment in operational infrastructure assets. For institutional and strategic investors, such structures provide access to infrastructure portfolios without requiring direct ownership of individual assets.
The latest bulk transaction gives L&T a sizable holding in Nxt-Infra Trust, with the infrastructure company acquiring 2.0875 crore units in a single open market transaction. The seller, A K Capital Finance, transferred more than 2.10 crore units at the same reported price, resulting in transactions of nearly INR 200 crore on either side of the disclosed trades.
Source PTI
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