Actis has successfully divested five highway assets to NXT-Infra Trust, a SEBI-registered Infrastructure Investment Trust sponsored by Actis Highway Infra Limited. The sold assets include Darah Jhalawar Highway, Vadodara Kim Expressway, Calicut Expressway, Vindhyachal Expressway, and Second Vivekananda Bridge Tollway. This transaction, which involved the transfer of these assets from Actis Group entities and KMC Constructions Limited, was advised by Anagram Partners for Actis and Cyril Amarchand Mangaldas for NXT-Infra Trust.
The acquisition consideration for these five highway companies comprised preferentially issued units in NXT-Infra Trust and cash. This move is part of Actis's broader strategy to monetize its Indian road assets. NXT-Infra Trust's portfolio now consists of 14 road stretches, covering over 2,000 lane-kilometers across various Indian states, including Delhi, Haryana, Uttarakhand, Uttar Pradesh, and Maharashtra, featuring both toll and annuity assets.
While the specific financial details for this transaction were not disclosed, previous reports indicated Actis's intent to sell a 10% stake in NXT-Infra Trust for $35 million to $42 million to repay acquisition loans. In July 2025, a letter of intent had been issued by Actis Roadways Holdings Limited, Actis Atlantic Holdings Limited, and Pacific Alliance Stradec Group Infrastructure Company LLC regarding a potential transfer of eligible road infrastructure assets to the Trust, which has now materialized with this latest transaction. The InvIT, which listed in July 2024 after raising $180 million in primary capital, is focused on providing long-term, stable yields to investors, with the sponsor group holding approximately 86% of the InvIT. The trust offered a distribution of $0.09 per unit in the quarter ending December 2025, showing a high distribution yield of 13-20% based on online data. Actis had initially acquired the road portfolio from Welspun Enterprises Ltd in June 2022 for an enterprise valuation of approximately $775 million.
