Group of investors led by Kairus Shavak Dadachanji, Chairman of Dadachanji Group of Companies buy 15.6 million units of Shrem InvIT with a total investment value of Rs. 177 crores. This is Dadachanji’s third investment in Shrem InvIT wherein he bought 9 million units at Rs. 114 per unit with a total investment of Rs. 102 crores. His current stake in Shrem InvIT now stands at over 5%.
Earlier Dadachanji invested in Shrem InvIT for the second time when he bought 15 million units at Rs. 104 per unit. His stake went up to 4.6% with the total investment at Rs. 156 crores.
Nitan Chhatwal, Chairman, Shrem InvITs said, “The popularity of InvITs has been on the rise in India as they have fared better in comparison to traditional infrastructure investment options. We are extremely happy to have the faith of renowned investors including Kairus Shavak Dadachanji with the new fund infusion in Shrem InvITs. This clearly shows that seasoned investors have high preference for new-age investment avenues like InvITs.”
Shrem InvIT holds a bouquet of 28 assets that are a mix of HAM, Annuity, and Toll projects. The projects are spread across 9 states in India and they have received 249 Annuities as of December 2022. The total amount received by Shrem InvIT is around Rs. 3843.65 crores. They acquired 4 of 10 new assets in November 2022 and the rest are scheduled for March 2023. The total lane kilometers of the portfolio are approximately 10,000 kms.
InvITs are a relatively new investment type in India, introduced by SEBI in 2014. But they have experienced rapid growth and have risen as a reliable way for investors to receive a steady cash flow. InvITs are a win-win for both investors and developers. While the developers get funding from investors to keep developing new projects, investors keep getting returns based on their investments.
