Shrem InvIT opts for loan, drops NCDs to acquire 10 road SPVs

29 Aug 2023 CW Team

Shrem InvIT announced that it had decided not to proceed with its initial plan of raising Rs 10 billion through debentures in order to finalise the acquisition of 10 special purpose vehicles (SPVs) connected to roads owned by Dilip Buildcon. The Infrastructure Investment Trust (InvIT) stated that it would instead secure Rs 8.6 billion via term loans, asserting that this approach was more financially effective for completing the transactions.

The lenders who had previously provided term loans had granted approval for the funds to be utilised to acquire the shares of the promoter, repay unsecured loans, and settle debts with senior creditors of the identified SPVs. These SPVs constituted part of the 10 new SPVs involved in the transaction. Shrem InvIT had significant lenders in the form of State Bank of India and Union Bank, with their exposure amounting to around Rs 55 billion. The term loan designated for the purpose of financing the acquisition of road projects held an "AAA" rating from Indian Ratings.

Up until now, Shrem InvIT had exclusively acquired projects from Dilip Buildcon, although it expressed willingness to entertain the idea of taking on operational road projects from other entities. The trust was currently assessing an additional set of 10 projects and had intentions to increase its capital base by Rs 3.3 billion, as stated by Pareek.

Also read:
MMRDA's 'One Line, One Manager' plan speeds metro progress
Namma Metro promotes National Common Mobility Card

Infrastructure Urban

13 Oct 2025

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..