L&T Infrastructure Development Projects Limited (L&T IDPL) is a Joint Venture between Larsen & Toubro (L&T) and Canada Pension Plan Investment Board, i.e. CPP Investments, which holds 51% and 49% shares individually.

On December 16, 2022, L&T contracted an agreement to sell its 51% stake in L&T IDPL and its subsidiary companies to Epic Concesiones. After the transaction, L&T IDPL will conclude to be a subsidiary of L&T. Epic Concesiones is a particular drive vehicle created for the transaction, being part of the Infrastructure Yield Plus II, an infrastructure fund accomplished by Edelweiss Alternative Asset Advisors.

Temporarily, CPP Investments will also be vending its 49% stake. Initially, CPP Investments participated in L&T IDPL in 2014. Gross proceeds to L&T and sales of CPP Investments would be nearly Rs 2723.40 crore before concluding adjustments with other terms of the transaction. L&T IDPL’s revenue through FY 2021-22 was Rs 128 crore, establishing around 0.08% of the combined revenue of L&T for FY 2021-22, and its calculated net worth was Rs 2521 crore as on March 31 2022.

L&T IDPL holds 13 subsidiaries, including L&T Interstate Road Corridor, L&T Deccan Tollways, L&T Samakhiali Gandhidham, L&T Transportation Infrastructure, L&T-Chennai Tada Tollway, Panipat Elevated Corridor, L&T Rajkot-Vadinar Tollway, PNG Tollway, Vadodara Bharuch Tollway, L&T Sambalpur Rourkela, LTIDPL Indvit Services Ahmedabad-Maliya Tollway, and Kudgi Transmission. These entities will terminate as subsidiaries of L&T under a sales stake in L&T IDPL.

L&T is an Indian Cosmopolitan affianced in EPC projects, Hi-tech manufacturing, and services. It manoeuvres in over 50 countries worldwide. The EPC major’s merged net profit rose 22.5% to Rs 2,228.97 crore on a 23% rise in net sales to Rs 42,762.61 crore in Q2 FY23 over Q2 FY22. The L&T scrip demolished 0.14% to resolve at Rs 2173.80 on December 16, 2022.