3i India to invest $61 mn in Supreme Infrastructure

3i India to invest $61 mn in Supreme Infrastructure

Mumbai: 3i India Infrastructure Fund, established by international investor 3i Group Plc., will invest around $61 million (around 305 crore) for a minority stake in a portfolio of four road companies of Supreme Infrastructure India Ltd, a Mumbai-based firm focused on roads and highways.

The Mumbai-based firm has an order book of 5,700 crore.

The $1.2 billion 3i India Infrastructure Fund has invested in Adani Power Ltd, Soma Enterprises Ltd, Krishnapatnam Port Co. Ltd, KMC Infratech Ltd, GVK Power and Infrastructure Ltd and Ind-Barath Energy (Utkal) Ltd. Anil Ahuja, managing director and head of 3i Asia, said his fund is targeting four sectors—roads, ports, power and airports.

“Roads are the only happening sector with verticals such as power, airports and ports not doing great for potential private equity players," said Abhinav Bhandari, senior analyst at Elara Securities (India) Pvt. Ltd. The share price of Supreme Infrastructure soared nearly 17% to close at 243.75 on Monday on the BSE. The Sensex fell 2.15%.