Roads InvIT: Shrem Group to raise Rs 600 cr through IPO

09 Apr 2021 CW Staff

Mumbai-based infrastructure development company Shrem Group is planning to raise Rs 600 crore through an initial public offering (IPO) of its Shrem Infrastructure Investment Trust (Shrem InvIT), which will open for subscription this month.

This will be the first InvIT offering with hybrid annuity model (HAM) road projects. Government annuity payments will comprise 85% of the InvIT’s revenues, and the remaining 15% will come from toll collection.

The IPO will be a fresh issue of six crore units of Rs 100 each, and the firm will use the proceeds to pare the debt. The InvIT floated by Shrem Group has an enterprise value of about Rs 7,000 crore. Post the floatation, Shrem will retain about 86% stake in the InvIT.

Shrem had acquired a portfolio of 24 projects from Dilip Buildcon Ltd in 2017 and 2018. These 24 road projects totalling 6,442.35 km are spread across Maharashtra, Madhya Pradesh, Gujarat, Uttar Pradesh, and Karnataka.

Additionally, the Shrem Group is also in the process of raising around Rs 3,400 crore of debt from the State Bank of India to refinance the debt of the road portfolio. The company aims to double its assets under management in three to five years.

Image Source

Also read: NHAI expects to launch first tranche of Rs 5k cr InVit in May

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..