Actis is planning to sell a secondary stake of around 10 per cent in its infrastructure investment trust (InvIT), Nxt Infra Trust. The stake sale is expected to fetch around Rs 3-3.50 billion. Actis will sell the minority stake to domestic institutional investors and family offices. It plans to use the proceeds to repay acquisition loans of around $40-45 million, availed for acquiring a portfolio of roads that are now part of Nxt Infra Trust. The payment is due at the end of 2026.
Nxt Infra Trust’s existing portfolio consists of six operating roads, totalling 2,087 lane km. The portfolio comprises four hybrid annuity model (HAM) assets with the National Highways Authority of India (NHAI), one NHAI toll road and one state HAM asset. These assets are spread across states such as Delhi, Haryana, Uttarakhand, Uttar Pradesh and Maharashtra.
The stake sale comes at a time of a huge demand for InvITs among domestic institutional investors – mutual funds, pension funds, insurance, corporate treasuries, alternative investment funds, family offices and high net-worth individuals (HNIs).