Invit

Sebi amends investment rules; lays framework for employment benefit scheme

Capital markets regulator Sebi came out with a framework for a unit-based employment benefit scheme for investment trusts -- REITs and InvITs. Under the framework, Sebi has prescribed the manner of the implementation of the scheme through a trust, the manner of receiving units by the employee benefit trust and the manner of allotment of units to the employee benefit trust by REIT (Real Estate Investment Trust) and InvIT (Infrastructure Investment Trust). In two separate notifications, Sebi said the 'unit-based employee benefit scheme' would be in the nature of the employee unit option scheme. Employee unit option scheme refers to a scheme under which the investment manager grants unit options to its employees through an employee benefit trust. The implementation of the scheme would be done through a separate Employee Benefit Trust (EB Trust) which can be created by the manager of a REIT or the investment manager of InvIT. The units held by EB Trust would be used only for the limite

NHAI completes InvIT monetisation of Rs 16,000 crore through 'Round 3'

Fundraise includes 7,200 crore equity commitments from existing investors

Bharat Highways Invit makes muted debut; shares of Birla AMC down 4%

Units of Bharat Highways Infrastructure Investment Trust (InvIT) made a mild debut on Tuesday, closing 3 per cent higher on the exchanges against the issue price of Rs 100. On the NSE, units of Bharat Highways InvIT began the trade at Rs 101.10, with a premium of 1.1 per cent. It finally ended at Rs 103.10, up by 3.08 per cent. It got listed at Rs 101 per unit, a premium of 1 per cent over the issue price on the BSE. During the day, it hit a high of Rs 104 per unit and later closed 3.05 per cent higher at Rs 103.05 per unit. At the close of the session, the company's market valuation stood at Rs 4,566.70 crore on the NSE. In terms of volume, 1.54 crore units were traded on the NSE, while 4.87 lakh units were traded on the BSE, during the day. The 30-share BSE Sensex climbed 165.32 points or 0.22 per cent at 73,667.96, while NSE Nifty ended almost flat at 22,335.70, inching up 3.05 points. On March 1, the Initial Public Offer (IPO) of Bharat Highways InvIT received 8 times subscri

Bharat Highways InvIT collects Rs 826 cr from anchor investors ahead of IPO

Bharat Highways InvIT, an infrastructure investment trust, on Tuesday said it has collected Rs 826 crore from anchor investors a day before its Initial Public Offering (IPO). The InvIT has allotted 8.26 crore units to 37 funds at Rs 100 apiece, aggregating the transaction size to Rs 826 crore, according to a circular uploaded on the BSE website. Copthall Mauritius Investment Ltd, Societe Generale, ICICI Prudential Mutual Fund, HDFC Mutual Fund, UTI Mutual Fund, Axis Mutual Fund, Reliance General Insurance Company, and Max Life Insurance Co Ltd are among the anchor investors, it showed. The Rs 2,500-crore maiden public issue of Bharat Highways will open for subscription on February 28 and conclude on March 1. The price band has been fixed at Rs 98-100 per unit. Proceeds from the issue will be utilised to provide loans to the project SPVs (Special Purpose Vehicles) for repayment of their outstanding loans. Bharat Highways InvIT is an infrastructure investment trust established to ..

Gawar Construction looks to raise Rs 2,000 crore from maiden InvIT

Co looks to put 10 road assets for Rs 5250 crore

KKR-backed Invit snaps up 12 road projects for Rs 9,005.70 crore

The road portfolio comprises 11 hybrid annuity concessions from the National Highways Authority of India (NHAI) and one toll road concession from the Uttar Pradesh State Highways Authority (UPSHA)

Ontario Teachers' to acquire 30% stake in Mahindra Susten for Rs 2,371 cr

The companies will also establish an Infrastructure Investment Trust (InvIT) comprising renewable power assets of Mahindra Susten with an operation capacity of 1.54 GWp

Reliance Industries transfers Rs 5,150 cr to warehouse InvIT fund

Reliance Industries Ltd (RIL) has transferred Rs 5,150 crore earlier this week to its warehouse InvIT infrastructure investment trust (InvIT) entity. "Reliance Retail completed the transfer of assets to warehouse InvIT entity for a total consideration of Rs 5,150 crore on 25th October 2023," said the earning statement from Reliance Retail on Friday. The asset value is now reflected in the 'Other Financial Assets' segment, as of September 30, 2023, it added. RIL has set up an InvIT, under which the group can monetise the backend warehousing and logistics assets of its retail business. Reliance Retail, which operates the retail business of the billionaire Mukesh Ambani-led Reliance Industries, registered the trust with the market regulator Securities and Exchange Board of India (Sebi) in February this year. The funds raised by the InvIT will be used for the acquisition of warehousing and logistics-related assets through a special-purpose vehicle. Reliance Retail, which is aggressiv

Shrem InvIT scraps plans for NCDs; opts for loan to acquire 10 road SPVs

Evaluating 10 more operating roads; to expand capital by Rs 330 cr

Cube Highways Trust reports Rs 781 cr consolidated net income in June qtr

Cube Highways Trust (Cube InvIT) has posted a consolidated income of Rs 781.5 crore for the quarter ended on June 30, 2023. Earning before interest tax depreciation and amortisation was Rs 422.89 crore during the period under review, Cube InvIT said. These are its first quarterly earnings as the investment trust was listed in India in April 2023. The Board of the Investment Manager has also declared a distribution per unit (DPU) of Rs 2.15 to ordinary unitholders for the first quarter of FY 2023-24. The record date for the distribution is August 11, 2023, and the distribution payment will be made on or before August 25, 2023, he said. Cube Highways Trust has a diversified portfolio of 18 toll and annuity road assets with an aggregate length of 1,423.60 kilometres. These road assets are located across 11 states in India. The Trust is engaged in implementing the public-private partnership (PPP) model in the country's highways sector to operate and manage highway projects in associa

RIL readies $2.4-3 bn Infra Investment Trust for retail warehousing assets

Reliance Industries Ltd has already begun setting the framework for the potential infrastructure investment trust (InvIT) of its warehouse assets

IRB Infra becomes the first company to list privately-placed InvIT

Private trust becomes first to get listed on NSE post SEBI guidelines

InvITs improved credit quality of Rs 46,000 cr debt in road sector: Crisil

Aided by regulatory guardrails and structural benefits, infrastructure investment trusts (InvITs) in the road sector have enhanced the credit quality of around Rs 46,000 crore debt till now, credit rating agency Crisil said on Tuesday. According to Crisil, since 2016, 19 InvITs have been registered in India and these include 11 from the roads sector of which nine have been floated or are set to be launched soon. These nine comprise 94 road assets valued over Rs 1.1 lakh crore, it said, adding that toll roads account for 70 per cent of this while annuity, annuity plus toll and hybrid annuity models comprise 13 per cent, 11 per cent and 6 per cent, respectively. Historically, Crisil said credit profiles of toll roads had seen challenges, such as high leverage, long delays in construction and lower-than-expected traffic. InvITs have addressed many of these problems, it added.

Edelweiss Energy InvIT raises Rs 2,300 crore; to invest in energy assets

AnZen Trust has acquired two operating inter-state transmission assets, located in the states of Punjab, Haryana and Bihar

Bharat Highways InvIT to raise Rs 3,000-crore through rupee-term loans

To retire debt of seven road projects that it will acquire

Nitin Gadkari wants retail investors to pip institutions in NHAI InvIT

Next InvIT issuance will have higher reservation for retail investors, says MoRTH Secretary Upadhyaya

No immediate plan to get retail investors into NHAI InvIT: CEO Suresh Goyal

Talks underway with Sebi to make private-listed InvIT into public

NHAI raises Rs 1,217 crore through InvIT, adds three road projects

Last year, the InvIT saw investments from CPP Investments and Ontario Teachers' Pension Fund at an enterprise value of Rs 8011 crore

Mahindra Group sells 30% stake in renewables arm for Rs 2,317 crore

The group will receive approximately Rs 1,300 crore ($165 million) as a result of this transaction

After energy and transmission, investment major KKR launches highway InvIT

Its InvITs have a combined value of $3.8 billion and cover 33 assets in 22 states