Karius Shavak Dadachanji buys Rs 156 crore worth of stake in Shrem InvIT

11 Nov 2022 , 08:28 AM

According to a press release from the company, Kairus Shavak Dadachanji, chairman of the Dadachanji Group of Companies, invested Rs156 crore through a bulk transaction by purchasing 1.5 crore units in Shrem InvIT for Rs104 each. 4.6% of the infrastructure trust’s shares are now owned by Kairus Dadachanji,  as a result of the action.

Dadachanji had made a modest investment at the time of Shrem InvIT’s initial public offering.

Shrem InvIT owns a collection of 24 assets spread across five states that are the perfect blend of annuity, HAM (hybrid annuity model), and toll projects.

According to a press release, it has so far issued five quarterly payments totalling Rs17.92 per unit since its initial listing last year in September.

Ten more assets are being purchased by the business. The first four projects will be purchased in November of this year, and the remaining projects by March of 2023. Various states, including Karnataka, Chhattisgarh, Madhya Pradesh, Jharkhand, Maharashtra, Odisha, and Andhra Pradesh, have these road assets. The 10 recently acquired assets have a combined lane kilometres of roughly 2501 km.

The company stated in the announcement that investments in InvITs are becoming more popular these days.

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