Infra.india Share News (IIP)

Investment group Infrastructure India is to take over wind power group Indian Energy in a deal worth £7.9m.The company also announced its full-year results. Net asset value (NAV) rose by 244% to £138m in the year to 31 March, nut due to the dilutive effect of placings, NAV per share fell by 16% to 92p."With value to be achieved for investors in infrastructure projects, generally, and given the growth dynamics of India, in particular, early deployment of capital should produce further improvements in IIP's NAV during the current financial year," chief executive Sonny Lulla said.At 3.15pm, shares in Indian Infrastructure were down by 6% at 75.5p.