India-focused private equity firm IDFC Alternatives has agreed to acquire a 76 percent stake in India-based Bangalore Elevated Tollway—a special purpose vehicle that has developed and is currently operating an elevated highway in Bangalore—from India-based infrastructure development companies NCC Infrastructure and Soma Enterprise. NCC and Soma each hold a 38 percent stake. The transaction, which will be structured through IDFC Alternatives’ India Infrastructure Fund II, will take place at an enterprise valuation of INR7.5 billion (approximately US$109 million). Bangalore Elevated Highway was originally a joint venture between NCC, Soma and India-focused private equity fund manager IL&FS Investment Managers, which continues to hold a 24 percent stake. The transaction is subject to approval and other closing conditions.