Company lists
The India edition · 2026

Infrastructure fundscompanies in India

Infra funds, financing, green funds, private equity, real estate and more: the companies building infrastructure funds in India, with their founders, funding, team size and business models.

47 company profiles18 with reported revenue2 with recorded fundingOctober 2026 edition
India · Photo: Wikimedia Commons (CC BY-SA 4.0)

Recent infrastructure funds business events in India

Funding, M&A, contract wins and launches involving 56 infrastructure funds companies in India, last 24 months: 8 Contracts · 8 M&A deals · 7 funding rounds. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

ContractService

Welspun One · client: Balmer lawrie

Welspun One has entered into a letter of intent with Balmer Lawrie & Co. for 65,000 sq ft of grade A warehousing space at WTC Nhava Sheva, expected to be operational by early 2027.

Logistics/Warehousing
ContractSupply

New Consolidated Construction Company Limited (NCCCL) · client: Welspun one logistics parks

Among the key wins is the construction of India's first vertical warehouse project for Welspun One Logistics Parks at the JNPA Special Economic Zone in Navi Mumbai.

Infrastructure
ContractInfrastructure

Welspun One · client: Indev Infra

Warehousing and industrial real estate platform Welspun One on Tuesday said it has leased 2.10 lakh sq ft of space at the JNPA special economic zone to Indev Infra for warehousing and…

M&AAcquisition · Announced

Essar group acquires Warid telecom

Essar group has acquired 51% equity for about $160 million, in Dhabi Group’s Warid Telecom operations in Uganda and Congo, reports Times of India.

M&AAcquisition · Rumored

Niif acquires Sprng energy

NEW DELHI: India’s National Investment and Infrastructure Fund (NIIF), KKR and Sembcorp are locked in a tight race to acquire renewable energy supplier Sprng Energy from oil major Shell Plc.

Renewable Energy
M&AAcquisition · Announced

Essar Shipping Mauritius Holdings Limited (ESMHL) acquires Essar Shipping

Essar Shipping Mauritius Holdings Limited (ESMHL) plans to acquire a 10.34% equity stake in Essar Shipping Limited (ESL) through an inter-se transfer of shares within the promoter group.

Shipping
M&AAcquisition · Announced

Oriental infratrust acquires Rajiv – Chowk (Sohna) Highway Private Limited

Shardul Amarchand Mangaldas & Co. acted as legal counsel to Oriental Structural Engineers Private Limited (“OSEPL”) in connection with its divestment of 100% equity stake in Rajiv –…

M&AAcquisition · Completed

ASK Financial Holdings acquires Cube highways trust

ASK Financial Holdings purchased 84.75 lakh units (0.63%) at Rs 133 per unit in Cube Highways Trust, amounting to Rs 112.7 crore.

Infrastructure
FundingBond issuance

Cube highways trust

Cube Highways Trust (Cube InvIT) has raised ₹820 crore through a bond issue.

Infrastructure
Funding

Sustainable Energy Infra Trust

India's Sustainable Energy Infra Trust plans to raise ₹750 crore ($86.84 million), through the sale of bonds maturing in five years and seven years, three bankers said on Wednesday.

Funding

Egfl

EGFL has raised an undisclosed amount in funding.

Infrastructure fund focused on multiple sectors
M&AAcquisition · Announced

Eversource capital acquires Blusmart

According to a report by the Business Standard, Eversource has offered to buy BluSmart for Rs 800-Rs 1,000 crore

Electric ride-hailing startup
Contract

India Infradebt · client: Swelect energy systems

Additionally, SWELECT Group has raised ₹290 crore funding through Non-Convertible Debentures (NCDs) via a private placement with India Infradebt Limited.

Contract

Swelect Group · client: India Infradebt

Swelect Group has raised Rs 290 crore funding through Non-Convertible Debentures (NCDs) via a private placement with India Infradebt Limited.

Finance
Contract

Swelect energy systems · client: India Infradebt

The company has also raised ₹2.9 billion through Non-Convertible Debentures (NCDs) via a private placement with India Infradebt Limited.

Finance
FundingPrivate placement of NCDs

Cube highways trust

"Cube InvIT's Board approved the allotment of 60,000 Non-Convertible Debentures (NCDs) with a face value of Rs 1 lakh each, aggregating to Rs 600 crores, with a tenor of 19 years and 1…

Investors I squared capital, Abu Dhabi Investment Authority (ADIA) subsidiary, British Columbia Investment Management Corporation, Mubadala
Infrastructure
ContractService

India grid trust · client: NTPC Vidyut Vyapar Nigam Ltd

India Grid Trust Limited also received an order from NTPC Vidyut Vyapar Nigam Ltd. for a 250 MW/500 MWh battery energy storage system in Rajasthan.

Battery Energy Storage

Infrastructure funds companies in India, by funding and team

Few infrastructure funds companies in India publish revenue, so this list compares what is on record instead: recorded equity funding, team size, revenue model, age and stage. The 47 companies below lead on recorded funding and team size among 47 active companies.

Showing 25 of 47

Provider of investment management services

Infrastructure funds
US$666.29mSeries D · Mar 2025
1,302LinkedIn · Jul 2026
Fee-for-service
6 yr2020
0none in 3 months · last posted May 2026

Infrastructure fund focused on multiple sectors

Transmission system operators (tso)
US$368.00mPE · May 2019
523-76% vs previous recordLinkedIn · Oct 2026
Fee-for-service
10 yr2016
0none in 3 months · last posted May 2026

Infrastructure fund focused on energy investments

Infrastructure funds
—None recorded
553+3% 12 mo to Aug 2024recorded Aug 2024
Fee-for-service
—
—No postings tracked

CLP India is the wholly owned subsidiary of CLP Holdings Ltd, which is listed on the Hong Stock Exchange and is one of the leading investor-owned power businesses in Asia.

Global 2000
—None recorded
375-13% vs previous recordrecorded
Commission on transaction / Fee-for-service
24 yr2002
—No postings tracked

Private equity, infrastructure, and funds on funds focused on multiple sectors

Infrastructure funds
—None recorded
122+3% 12 mo to Sep 2024LinkedIn · Jul 2026
Commission on transaction / Fee-for-service
11 yr2015
0none in 3 months

Infrastructure fund focused on sustainable development

Infrastructure funds
—None recorded
257LinkedIn · Jul 2026
Fee-for-service
27 yr1999
0none in 3 months

M2K India is a business organization that invests in sunrise sectors such as infrastructure, biologicals, real estate, and defense aviation.

Infrastructure funds
—None recorded
194LinkedIn · Jul 2026
Commission on transaction / Renting / leasing
43 yr1983
0none in 3 months · last posted Jul 2026

Infrastructure investment and management firm

Infrastructure funds
—None recorded
37+20% 12 mo to Sep 2024LinkedIn · Jul 2026
Commission on transaction / Fee-for-service
8 yr2018
0none in 3 months

Infrastructure fund focused on multiple sectors

Oil & gas midstream
—None recorded
10,579+0% 12 mo to Jun 2024LinkedIn · Oct 2026
Commission on transaction / Fee-for-service
57 yr1969
0none in 3 months

Infrastructure investment trust

Infrastructure funds
—None recorded
40LinkedIn · Jul 2026
Fee-for-service
3 yr2023
0none in 3 months

Infrastructure fund focusing on the public sector infrastructure

Infrastructure funds
—None recorded
22recorded
Commission on transaction / Fee-for-service
42 yr1984
0none in 3 months

Investor in road infrastructure assets

Infrastructure funds
—None recorded
86+38% 12 mo to Feb 2024LinkedIn · Oct 2026
Commission on transaction / Fee-for-service
16 yr2010
0none in 3 months

Provider of integrated fund and development management platform

Infrastructure funds
—None recorded
215+260% 12 mo to Sep 2024LinkedIn · Jul 2026
Commission on transaction / Fee-for-service
7 yr2019
0none in 3 months

Infrastructure fund focused on roads, highways, and airfield

Infrastructure funds
—None recorded
31LinkedIn · Jul 2026
Fee-for-service
7 yr2019
0none in 3 months

Real estate & infrastructure fund focused on multiple sectors

Infrastructure funds
—None recorded
7recorded
Commission on transaction / Fee-for-service
33 yr1993
0none in 3 months

Infrastructure fund focused on multiple sectors

Infrastructure funds
—None recorded
3-64% 12 mo to Sep 2024LinkedIn · Jul 2026
Commission on transaction / Fee-for-service
5 yr2021
0none in 3 months

Infrasturutre fund focused on mining sectors

Infrastructure funds
—None recorded
2recorded
Commission on transaction / E-commerce - product
15 yr2011
—No postings tracked

Venture Capital firm backed by SBI

Venture capital funds
—None recorded
82LinkedIn · Jul 2026
Commission on transaction / Fee-for-service
21 yr2005
0none in 3 months

Infrastructure fund focused on multiple sectors

Infrastructure funds
—None recorded
74LinkedIn · Jul 2026
Commission on transaction / Fee-for-service
8 yr2018
0none in 3 months

Infrastructure funds focused on the energy sector

Infrastructure funds
—None recorded
—Not available
Commission on transaction / Fee-for-service
16 yr2010
0none in 3 months

Infrastructure investment trust

Infrastructure funds
—None recorded
—Not available
Fee-for-service
4 yr2022
0none in 3 months

Infrastructure fund investing across multiple sectors

Infrastructure funds
—None recorded
—Not available
Commission on transaction / Fee-for-service
7 yr2019
0none in 3 months

Infrastructure fund focused on plant investments

Infrastructure funds
—None recorded
2LinkedIn · Jul 2026
Fee-for-service
6 yr2020
0none in 3 months

Infrastructure company focused on acquiring and operating road assets

Infrastructure funds
—None recorded
—Not available
Commission on transaction / Fee-for-service
6 yr2020
0none in 3 months

Company specializing in long-term refinancing solutions for operational infrastructure projects

Infrastructure funds
—None recorded
70LinkedIn · Jul 2026
Commission on transaction / Fee-for-service
12 yr2014
0none in 3 months
47 of 47 companies shown here · the full list is on Radar
Fliar Radar

Explore all 47 infrastructure funds companies in India on Radar

This page shows the top 47. Radar has the complete, filterable list with contacts and live company signals.

Open infrastructure funds in India on Radar
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Explore infrastructure funds companies in India by what you are looking for

Browse the best infrastructure funds in India, from infrastructure debt funds to green and private equity infrastructure funds. Find infrastructure financing companies in India, infrastructure funds startups and the top infrastructure funds hiring now.

8 ways to explore infrastructure funds in India

Infrastructure funds & infrastructure debt fundsInfrastructure financing companiesGreen & sustainable infrastructure fundsPrivate equity & venture infrastructure fundsReal estate & real asset fundsInfrastructure funds startups in India

Infrastructure funds & infrastructure debt funds

Funds that raise money and lend or invest it in roads, power, pipelines and other infrastructure projects.

  1. India Infradebt

    Provider of infrastructure debt funding services

    Infrastructure funds
    See in list
  2. NIIF

    Private equity, infrastructure, and funds on funds focused on multiple sectors

    Infrastructure funds
    See in list
  3. U.Y. Fincorp

    Real estate & infrastructure fund focused on multiple sectors

    Infrastructure funds
    See in list
  4. EverSource Capital

    Infrastructure investment and management firm

    Infrastructure funds
    See in list
  5. Roadstar Infra

    Infrastructure company focused on acquiring and operating road assets

    Infrastructure funds
    See in list

Infrastructure financing companies

Banks, advisers and lenders that arrange finance for infrastructure and real asset projects.

  1. New Age Financial Advisory

    M&A, strategic advisory, and infrastructure firm focused on the agriculture sector

    Infrastructure funds
    See in list
  2. Flagship Properties

    Infrastructure fund investing in farmland and plantation sectors

    Infrastructure funds
    See in list
  3. L&T Infra Debt Fund

    L&T Infra Credit Ltd is an Infrastructure Debt Fund, which is primarily engaged in providing services related to the financing of infrastructure projects. Geographically, all the business operations of the company are principally carried out in India. The group generates the majority of revenue through the interests it receives on debentures.

    Infrastructure funds
    See in list

Green & sustainable infrastructure funds

Infrastructure funds focused on renewable energy, sustainable development and impact investing.

  1. NCL Holdings

    Infrastructure fund investing across multiple sectors

    Infrastructure funds
    See in list
  2. EverSource Capital

    Infrastructure investment and management firm

    Infrastructure funds
    See in list
  3. KIIFB

    Infrastructure fund focused on sustainable development

    Infrastructure funds
    See in list
  4. New Age Financial Advisory

    M&A, strategic advisory, and infrastructure firm focused on the agriculture sector

    Infrastructure funds
    See in list
  5. Gemstone Investments

    Single-family office focused on impactful energy investments

    Infrastructure funds
    See in list

Private equity & venture infrastructure funds

Private equity, growth equity and venture capital funds that back infrastructure businesses.

  1. NIIF

    Private equity, infrastructure, and funds on funds focused on multiple sectors

    Infrastructure funds
    See in list
  2. EverSource Capital

    Infrastructure investment and management firm

    Infrastructure funds
    See in list
  3. SBICAP Ventures

    Venture Capital firm backed by SBI

    Venture capital funds
    See in list
  4. Roadstar Infra

    Infrastructure company focused on acquiring and operating road assets

    Infrastructure funds
    See in list
  5. RMZ

    Provider of integrated real assets platform spanning offices, retail, and infrastructure

    Private equity funds
    See in list

Real estate & real asset funds

Funds investing in property, farmland and other real assets alongside infrastructure.

  1. U.Y. Fincorp

    Real estate & infrastructure fund focused on multiple sectors

    Infrastructure funds
    See in list
  2. Flagship Properties

    Infrastructure fund investing in farmland and plantation sectors

    Infrastructure funds
    See in list
  3. Nereus Capital

    Infrastructure funds focused on the energy sector

    Infrastructure funds
    See in list
  4. RMZ

    Provider of integrated real assets platform spanning offices, retail, and infrastructure

    Private equity funds
    See in list

Infrastructure funds startups in India

Newer infrastructure funds and managers set up in the last few years.

  1. Kathari

    Infrastructure fund focused on multiple sectors

    Infrastructure funds
    See in list
  2. Sustainable Energy Infra Trust

    Infrastructure investment trust

    Infrastructure funds
    See in list
  3. Karmacapitalaif.in

    Independent investment management organization offering alternative investment fund (AIF) solutions for long-term capital appreciation

    Infrastructure funds
    See in list
3 companies in India

Listed infrastructure funds companies in India

Publicly listed infrastructure funds and trusts in India.

  1. U.Y. Fincorp

    Real estate & infrastructure fund focused on multiple sectors

    Infrastructure funds
    See in list
  2. Shrem InvIT

    Investor in road infrastructure assets

    Infrastructure funds
    See in list
  3. Vishvaprabha Ventures

    Infrastructure fund focusing on the public sector infrastructure

    Infrastructure funds
    See in list
  4. Vakharia Power Infrastructure

    Operator of solar power generation, including rooftop solar power systems

    Infrastructure funds
    See in list
  5. NDR InvIT Trust

    Infrastructure fund investing across sustainable sectors

    Infrastructure funds
    See in list
9 companies in India

Infrastructure funds companies hiring in India

Infrastructure funds and managers with open roles right now.

  1. IndiGrid

    Infrastructure fund focused on multiple sectors

    Transmission system operators (tso)
    See in list
  2. National Highways Infra Trust

    Provider of investment management services

    Infrastructure funds
    See in list
  3. m2k group

    M2K India is a business organization that invests in sunrise sectors such as infrastructure, biologicals, real estate, and defense aviation.

    Infrastructure funds
    See in list
3 companies in India
The business behind the activity

Infrastructure funds financials in India

Revenue, profit and growth from the filed annual accounts of 11 infrastructure funds companies in India for FY24-25 — 13 of the 47 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 87% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹515.47 cr

11 companies filing accounts

combined net profit₹36.83 cr

7.1% aggregate margin

are profitable73%

8 of 11 companies

median revenue~₹30.0 cr

the typical company

median revenue growth+12%

into FY24-25

earned by the top five87%

revenue concentration

Six-year view

Combined revenue of filing companies

₹249.47 crFY19-206 filers
₹248.52 crFY20-216 filers
₹306.49 crFY21-228 filers
₹404.72 crFY22-2310 filers
₹568.19 crFY23-2411 filers
₹515.47 crFY24-2511 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 10 companies over three years

+20%
FY22-23₹404.72 cr₹36.38 cr net
FY23-24₹552.30 cr₹29.92 cr net
FY24-25₹484.85 cr₹33.79 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr10% profitable
₹1–10 cr367% profitable
₹10–100 cr580% profitable
₹100–1,000 cr2100% profitable
Over ₹1,000 cr0—

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking4
0–20%3
20–50%2
50–100%1
Doubled+1

11 companies with accounts for both years; median growth +12%.

Profitability

Profit is concentrated at the top

8profitable
3loss-making
7.1%aggregate margin
9.9%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
Sustainable Energy Infra TrustSUSTAINABLE ENERGY INFRA INVESTMENT MANAGERS PRIVATE LIMITED+93%₹30.62 cr
NCL HoldingsNCL HOLDINGS (A&S) LIMITED+44%₹30.07 cr
EverSource CapitalEVERSOURCE CAPITAL PRIVATE LIMITED+21%₹64.37 cr
National Highways Infra TrustNATIONAL HIGHWAYS INFRA INVESTMENT MANAGERS PRIVATE LIMITED+14%₹22.25 cr
Cube Highways TrustCUBE HIGHWAYS FUND ADVISORS PRIVATE LIMITED+12%₹29.98 cr
NIIFNATIONAL INVESTMENT AND INFRASTRUCTURE FUND LIMITED-3%₹209.28 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
NCL HoldingsNCL HOLDINGS (A&S) LIMITED39.7%₹30.07 cr
Cube Highways TrustCUBE HIGHWAYS FUND ADVISORS PRIVATE LIMITED16.1%₹29.98 cr
U.Y. FincorpU. Y. FINCORP LIMITED10.4%₹112.99 cr
Sustainable Energy Infra TrustSUSTAINABLE ENERGY INFRA INVESTMENT MANAGERS PRIVATE LIMITED9.9%₹30.62 cr
National Highways Infra TrustNATIONAL HIGHWAYS INFRA INVESTMENT MANAGERS PRIVATE LIMITED3.7%₹22.25 cr
NIIFNATIONAL INVESTMENT AND INFRASTRUCTURE FUND LIMITED1.5%₹209.28 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Infrastructure funds11₹515.47 cr~₹30.0 cr73%7.1%
Leaders

Largest infrastructure funds companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
NIIFNATIONAL INVESTMENT AND INFRASTRUCTURE FUND LIMITED₹209.28 cr₹3.14 cr1.5%-3%
U.Y. FincorpU. Y. FINCORP LIMITED₹112.99 cr₹11.73 cr10.4%-43%
EverSource CapitalEVERSOURCE CAPITAL PRIVATE LIMITED₹64.37 cr−₹19.88 lakh-0.3%+21%
Sustainable Energy Infra TrustSUSTAINABLE ENERGY INFRA INVESTMENT MANAGERS PRIVATE LIMITED₹30.62 cr₹3.03 cr9.9%+93%
NCL HoldingsNCL HOLDINGS (A&S) LIMITED₹30.07 cr₹11.93 cr39.7%+44%
Cube Highways TrustCUBE HIGHWAYS FUND ADVISORS PRIVATE LIMITED₹29.98 cr₹4.83 cr16.1%+12%
National Highways Infra TrustNATIONAL HIGHWAYS INFRA INVESTMENT MANAGERS PRIVATE LIMITED₹22.25 cr₹81.28 lakh3.7%+14%
KathariKATHARI WATER MANAGEMENT PRIVATE LIMITED₹7.04 cr₹2.31 cr32.8%-40%
Roadstar InfraROADSTAR INFRA PRIVATE LIMITED₹5.97 cr−₹16.10 lakh-2.7%+8%
KIIFBKERALA INFRASTRUCTURE FUND MANAGEMENT LIMITED₹2.55 cr₹54.01 lakh21.2%+165%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Accounting and Tax Software Industry Landscape of India

The financials above are one chapter. The full infrastructure funds landscape of India maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the infrastructure funds landscape of India
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Infrastructure funds funding and M&A across India

6 recorded equity rounds have gone to 56 infrastructure funds companies in India — how much, at which stage, into which sub-sectors, from whom, and how India compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months0

US$0k

equity rounds, last 24 months1

US$241.88m

raised over five yearsUS$666.29m

5 rounds in India

M&A deals, India8

last 24 months

Capital by year

Equity funding into infrastructure funds in India

amount rounds
$368m20191
$207m20211
$020231
$217m20242
$242m20251

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2019, with US$368.00m across 1 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

Series D+US$666.29m3 rounds · median US$217.13m
Where the money went · five years

Most-funded sub-sectors

Infrastructure fundsUS$666.29m5 rounds · 3 companies
Corporate activity · last 24 months

M&A in India

8Acquisition

Most active acquirers

  1. Essar group1
  2. Trust financial consultancy services1
  3. Niif1
  4. Essar Shipping Mauritius Holdings Limited (ESMHL)1
  5. Oriental infratrust1

Most acquired or merged

  1. Warid telecom1
  2. India grid trust1
  3. Sprng energy1
  4. Essar Shipping1
  5. Rajiv – Chowk (Sohna) Highway Private Limited1

Each deal appears in the events strip at the top of the page.

Founders and momentum in India

Meet the people behind infrastructure funds companies in India. 26 of 47 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore India infrastructure funds companies by sub-sector

The most common specialisations among infrastructure funds companies in India. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring infrastructure funds in India and nearby markets.

Coming soon