National Investment and Infrastructure Fund Ltd (NIIFL) has announced the acquisition of a 100% equity stake in the Shapoorji Pallonji Group’s SP Jammu Udhampur Highway Ltd through the NIIF Master Fund at an enterprise value of over $290 million. (Approximately ₹2,290 crore).
NIIF is a collaborative investment platform for international and Indian investors, anchored by the Government of India, which manages funds with investments in different asset classes and diversified sectors.
The operational road in the union territory of Jammu and Kashmir (J&K) will be managed by NIIF Master Fund’s proprietary roads platform Athaang Infrastructure.