UK's Apis Partners to acquire $110 mln stake in India's L&T IDF

04/26/2019 6:03:00 AM (GMT)

London-based private equity firm Apis Partners LLP is buying a stake in a subsidiary of India's L&T Finance Holdings, part of the engineering to software company Larsen & Toubro Group.

Apis Partners will pay $110 million for a 25.1 percent stake in L&T Infra Debt Fund (L&T IDF).

The commitment in L&T IDF will be routed via Apis Partners' fund, Apis Growth Fund II.

Annually, Larsen & Toubro Group has about $21 billion in revenue.

Apis Partners LLP

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