Shrem group plans to raise Rs 600 cr by diluting 15% stake in InVIT
Real Estate

Shrem group plans to raise Rs 600 cr by diluting 15% stake in InVIT

Mumbai-based Shrem Group is planning to raise Rs 600 crore via diluting a 15% stake in its infrastructure investment trust (InvIT) next week.

The Shrem group, which had first tried to raise the money by this route in April and faced delays because of the second wave of the Covid-19, said it is already in discussions with domestic investors to raise the fund by a private listing.

Founder of Shrem group, Nitan Chhatwal, told the media a minimum of Rs 2 crore investment is being sought and it will be able to sail by with the offering.

He further added that the Shrem group is issuing fresh shares, and they are not selling units in Shrem InvIT as they see there is a lot of opportunity in the space they operate.

He claimed that investing in the platform will offer post-tax returns of 9% per annum, given the fact that 85% of the assets are in the annuities space which will see repayments from the government.

Chhatwal said that there are developers of annuity projects with assets valued over Rs 2 lakh crore, and they are looking for buyers.

The group will also look at expanding its portfolio in the future, he further added.

He said that, at present, the 24 assets were claimed to be valued at Rs 7,000 crore, and only 15% of the revenue proceeds from toll roads.

Earlier, Chhatwal said that the group got 24 projects from Dilip Buildcon and all projects were finished in March 2020.

Image Source


Also read: Strata raises $6 mn in a Series A funding round from investors

Mumbai-based Shrem Group is planning to raise Rs 600 crore via diluting a 15% stake in its infrastructure investment trust (InvIT) next week. The Shrem group, which had first tried to raise the money by this route in April and faced delays because of the second wave of the Covid-19, said it is already in discussions with domestic investors to raise the fund by a private listing. Founder of Shrem group, Nitan Chhatwal, told the media a minimum of Rs 2 crore investment is being sought and it will be able to sail by with the offering. He further added that the Shrem group is issuing fresh shares, and they are not selling units in Shrem InvIT as they see there is a lot of opportunity in the space they operate. He claimed that investing in the platform will offer post-tax returns of 9% per annum, given the fact that 85% of the assets are in the annuities space which will see repayments from the government. Chhatwal said that there are developers of annuity projects with assets valued over Rs 2 lakh crore, and they are looking for buyers. The group will also look at expanding its portfolio in the future, he further added. He said that, at present, the 24 assets were claimed to be valued at Rs 7,000 crore, and only 15% of the revenue proceeds from toll roads. Earlier, Chhatwal said that the group got 24 projects from Dilip Buildcon and all projects were finished in March 2020. Image Source Also read: Strata raises $6 mn in a Series A funding round from investors

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement