NSE-BSE bulk deal: Kairus Shavak Dadachanji buys stake in Shrem InvIT

Increases stake to 4.6 % in Shrem InvIT

MUMBAI, India, Nov. 11, 2022 /PRNewswire/ — Among the top bulk deals by family offices, Kairus Shavak Dadachanji, Chairman of the Dadachanji Group of Companies through a bulk deal bought 15 million units in Shrem InvIT at Rs 104 per unit increasing his stake in the InvIT to 4.6%. The total value of the deal is around Rs 156 Cr.

Kairus Shavak Dadachanji quoted that he started with a small investment at the time of the IPO of Shrem InvIT and based on its impressive performance and distribution decided to increase the stake to 4.6%. 

Shrem InvIT holds a bouquet of 24 assets with an ideal mix of Annuity, HAM, and Toll Projects across 5 states in the country and has made five quarterly distributions so far since its initial listing last year on 22^nd September 2021 aggregating to Rs 17.92 per unit. The InvIT closed at Rs 104. The company is in the process of acquiring 10 more assets. Out of which 4 projects will be acquired in November this year and the balance by March 2023. These are annuity road assets located in different states like Karnataka, Chhattisgarh, Madhya Pradesh, Jharkhand, Maharashtra, Odisha, and Andhra Pradesh. The total lane km of the 10 newly acquired assets is approximately 2501 km.

Investments in InvITs are gaining traction these days. The model is a win-win situation for investors as well as infrastructure developers as it enables the release of capital to developers for funding new infrastructure projects while providing steady long-term attractive returns for investors.

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