- Infrastructure fund Infrastructure India reported a fall in net asset value in the first half of the year, as the pandemic impact on operational activities at its largest asset Distribution Logistics Infrastructure and the consequential squeeze on funds.

For the six months ended 30 September 2021, net asset value decreased to £72.1 million when compared to £93.3 million, 13.7p per share seen on 31 March 2021, and £104.3 million, 15.3p per share, on 30 September 2020.

The company said it had remained active in securing sources of financing to ensure the group had adequate funding to continue to meet liabilities as they fall due.

To realise funds within the short term, management were in advanced discussions with regard to the sale of Indian Energy. The group had received a Letter of Intent signed by a third party.

'While the sale will likely occur at a discount to the stated NAV, the proceeds will provide the group with additional runway to pursue the monetisation of other assets, in particular through the partial or complete sale of DLI,' the company said.

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