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Mumbai, Oct. 23 IDFC has acquired 48.4 per cent stake in SMS Shivnath Infrastructure Ltd (SSIL), which is a Special Purpose Vehicle (SPV) of SMS Infrastructure Ltd.

“Our investment in SSIL is part of an initiative to set up a new infrastructure fund to invest in the equity of operating and greenfield assets. SSIL will be one of the seed assets for this fund. IDFC will work with companies like SMS Infrastructure Ltd to help in the creation and operation of infrastructure assets,” said Dr Rajiv Lall, MD & CEO of IDFC. SSIL owns, operates and maintains an 18.4 km 2-lane road on National Highway 6, which serves as a bypass to the city of Durg in Chhattisgarh.

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