L&T Buys Over 2 Cr Units Of Nxt-Infra Trust For ₹199 Cr

Infrastructure major Larsen & Toubro has bought more than 2 crore units of Nxt-Infra Trust for ₹199 crore through an open market transaction, according to the bulk deal data on the NSE.

Following the transaction, shares of Nxt-Infra Trust on Wednesday were trading 1.03% higher at ₹98 per unit on the National Stock Exchange (NSE).

Larsen & Toubro Ltd (L&T) purchased 2,08,75,000 units of Mumbai-based Nxt-Infra Trust, a Sebi-registered InvIT (Infrastructure Investment Trusts).

The transaction was executed on Tuesday at an average price of ₹95.33 a unit, taking the transaction size to ₹199 crore, as per the data.

Meanwhile, A K Capital Finance sold over 2.10 crore units of Nxt-Infra Trust at the same price.

This took the deal value to ₹200.67 crore.

Details of the other buyers of Nxt-Infra Trust's units could not be identified on the exchange.

Nxt-Infra Trust is sponsored by Actis Highway Infra Ltd, part of the Actis Group, a global investor focused on sustainable infrastructure. Actis was formed in 2004 following its spin-out from CDC Group plc.

Actis Group invests worldwide across energy infrastructure, long-life infrastructure, digital infrastructure, and real estate.