L&T IDPL is a joint venture between Larsen & Toubro and Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares respectively. L&T IDPL has been a pioneer in the Public-Private-Partnership (PPP) model of development in India, which involved development of infrastructure projects by private sector players in partnership with the Central and State governments. L&T IDPL has developed landmark infrastructure projects across key sectors like Roads, Bridges, Ports and Urban Infrastructure.

Edelweiss Alternatives' infrastructure strategy focuses on investing in quality operating infrastructure assets in core sectors of power transmission, renewable energy and highways among others. Post this acquisition, the platform will have a high-quality diversified portfolio of 26 assets across 13 states, making it a leading infrastructure investor in India.

The transaction is subject to completion of customary closing conditions including receipt of applicable regulatory and other approvals. Gross proceeds to L&T and CPP investments from the sale would be approximately Rs 2723.4 crore before closing adjustments and other terms of the transaction.