IndInfravit, the infrastructure investment trust (InvIT) sponsored by Larsen & Toubro Infrastructure Development Projects Limited, has roped in Kalpataru Power Transmission’s Pawan Kant as its new chief executive officer with effect from April 2021.
An engineer with an MBA degree, Kant has experience in core infrastructure and construction sectors and has expertise in profit and loss management, mergers and acquisitions, operations and strategy, the company said in a statement to exchanges.
According to his LinkedIn page, Kant was previously president of long-term assets at Kalpataru Power.
IndInfravit’s previous chief executive officer, J Subramanium, had resigned on September 11, 2020, the board of Larsen & Toubro Infrastructure Development said after its meeting earlier on Friday.
The infrastructure investment trust is backed by investors such as Allianz Capital Partners, Canada Pension Plan Investment Board (CPPIB) and OMERS Infrastructure.
In 2019, the trust acquired Sadbhav Infrastructure’s road assets.
The capital market regulator has been allowing InvITs more leeway in recent years with regard to raising funds. In November 2020, it allowed unlisted InvITs to raise capital via rights issue.
