Anagram Partners: Actis NXT-Infra Sale of 5 Highway Assets

• Actis has sold five highway assets, including Darah Jhalawar Highway and Second Vivekananda Bridge Tollway, to NXT-Infra Trust.
• Anagram Partners advised Actis on this significant infrastructure divestment.
• NXT-Infra Trust is a SEBI-registered Infrastructure Investment Trust (InvIT) sponsored by Actis Highway Infra Limited, focused on Indian road assets.
• The InvIT's portfolio now includes 14 road stretches spanning over 2,000 lane-km across Delhi, Haryana, Uttarakhand, Uttar Pradesh, and Maharashtra.
• This transaction exemplifies the ongoing consolidation and investment in India's road infrastructure sector, often facilitated through the InvIT model.

This transaction underscores the increasing trend of consolidation and strategic investment within India's vital road infrastructure sector, frequently facilitated by the InvIT structure.

Actis has successfully completed the divestment of five significant highway assets, transferring ownership to NXT-Infra Trust. The portfolio of divested assets includes the Darah Jhalawar Highway, Vadodara Kim Expressway, Calicut Expressway, Vindhyachal Expressway, and the Second Vivekananda Bridge Tollway. This strategic Actis highway assets India sale marks a notable transaction in the country's infrastructure sector.

Anagram Partners provided comprehensive legal counsel to Actis throughout this complex transaction. The advisory team from Anagram Partners was spearheaded by Partners Simone Reis and Shwetank Chaubey. They were supported by a dedicated group of legal professionals, including Senior Associate Anupam Nayak, alongside Associates Kavya Nagamangala, Rahil Arora, and Kanishka Gunjiyal, ensuring the smooth execution of this Anagram Partners infrastructure deal.

The acquiring entity, NXT-Infra Trust, operates as a SEBI-registered Infrastructure Investment Trust (InvIT), a specialized financial instrument designed to facilitate investment in infrastructure projects. This particular InvIT is sponsored by Actis Highway Infra Limited, underscoring a focused approach to infrastructure development and ownership. NXT-Infra Trust's core mandate is to invest in and own road infrastructure assets across India, making this NXT-Infra Trust InvIT acquisition a direct alignment with its strategic objectives.

With this acquisition, NXT-Infra Trust further solidifies its position in the market. Its existing portfolio encompasses 14 distinct road stretches, collectively spanning over 2,000 lane-kilometers. These critical transportation arteries are strategically located across several key Indian states, including Delhi, Haryana, Uttarakhand, Uttar Pradesh, and Maharashtra. The portfolio is diversified, comprising both toll and annuity assets, reflecting a balanced approach to revenue generation within the India road infrastructure investment landscape.

This transaction underscores the increasing trend of consolidation and strategic investment within India's vital road infrastructure sector, frequently facilitated by the InvIT structure. The involvement of Anagram Partners in advising Actis on this significant divestment highlights the specialized legal expertise required for such large-scale infrastructure deals, particularly those involving a SEBI registered InvIT transaction.

For legal practitioners and investors, this Anagram Partners Actis NXT-Infra sale serves as a pertinent example of how established players are leveraging InvITs for both asset divestment and acquisition in the Indian market. It reflects a maturing ecosystem where infrastructure assets are increasingly viewed as attractive investment vehicles, driving further capital deployment and consolidation within the sector.

This transaction demonstrates the ongoing consolidation and investment activity within India's road infrastructure sector via InvITs. Lawyers advising clients in infrastructure or M&A should note the deal structure and the active players, including Anagram Partners' role, as a precedent for similar asset divestments or acquisitions.

Source: Original reporting via Bar & Bench