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MUMBAI: Local investors HDFC MF, LIC of India, Nippon MF, Darashaw and Trust Capital are in talks with Mumbai-based Shrem group, which is set to launch an infrastructure
investment trust (InvIT) of Rs 600 crore via an initial public offer, two people with knowledge of the matter told ET.
The company will also raise about Rs 3,500 crore loan from the State Bank of India at a rate in the range of 7-7.35 percent with 15-year maturity as it seeks to repay existing high-cost debt. Final sanction for the loan is awaited.
“Shrem has reached out to many investors that are currently in discussions,” said one of the persons cited above.