InvIT company is in the process of acquiring 10 more assets
Kairus Shavak Dadachanji, Chairman of the Dadachanji Group of Companies, has paid Rs.156 crore for 15 million units, increasing its shareholding in Shrem InvIT which holds a bouquet of 24 assets with an ideal mix of Annuity, HAM and Toll Projects across 5 states in the country.
He paid Rs.104 per unit for the 15 million units, increasing his stake in the InvIT to 4.6%. The total value of the deal is around Rs 156 crore.
Dadachanji said that impressed with the company performance though he started with a small investment at the time of the IPO.
The company is in the process of acquiring 10 more assets. Out of which 4 projects will be acquired in November this year and the balance by March 2023. These are annuity road assets located in different states like Karnataka, Chhattisgarh, Madhya Pradesh, Jharkhand, Maharashtra, Odisha, and Andhra Pradesh. The total lane km of the 10 newly acquired assets is approximately 2,501 km.
Investments in InvITs are gaining traction these days. The model is a win-win situation for investors as well as infrastructure developers as it enables the release of capital to developers for funding new infrastructure projects while providing steady long-term attractive returns for investors.
Shrem InvIT is an organized and reliable platform for Infrastructure Investment to unlock value for highway developers and enable investors to earn superior and stable returns with utmost safety. Shrem InvIT is a part of the Shrem group and together it visions to be the most preferred partner with the stakeholders, in the creation of a quality pool of operational revenue-generating infrastructure assets with creditable yield for their investors. fiinews.com
