Group of investors led by Kairus Shavak Dadachanji buys 15.6 million units of Shrem InvIT at Rs. 177 Cr.

This is Mr. Dadachanji’s third investment in Shrem InvIT

Mumbai, March 23, 2023 (GNI): 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 Mr. 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 on the 10th of November 2022, Mr. 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.

Mr. 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 is approximately 10,000 kilometers. 

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, stated in a press release. 

About Shrem InvIT is an organized and reliable platform for infrastructure investments to unlock value for highway developers and enable investors to earn superior and stable returns with the utmost safety. Shrem InvIT’s vision is to be the number one partner for stakeholders, by creating a quality pool of operational revenue-generating infrastructure assets with a creditable yield for their investors. Ends GNI SG