L&T Infrastructure Development Projects Limited has announced for purchase the entire stake held by Old Lane Mauritius III Ltd (Old Lane) in L&T Infrastructure Development Projects Limited (L&T IDPL) a subsidiary company. The cost of acquisition is Rs 47.997 crore for 81,90,000 shares aggregating to 2.551% of the shareholding.

About the L&T Infrastructure Development Projects Limited : The company was incorporated on February 26, 2001 and has been a pioneer of the Public Private Partnership (PPP) model of development in India, which involves the development of infrastructure projects by private sector players in partnership with the Central and State Governments. The company has since its inception completed landmark infrastructure projects across key sectors like Roads, Bridges, Ports, Airports, Water Supply, Hydel Energy and Urban Infrastructure.