The government s push for rapid growth in the infrastructure sector will catalyse a massive fund flow in the Infrastructure Investment Trusts, Nitan Chhatwal, CMD of Shrem Group told ET.
G-20 nearer to a deal on minimum corporate tax rate (SPY +0.5%). Big oil set to return to profit in 2021 and the WEI index improved again.
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Big Oil Set To Return To Profit In 2021 Vitol, Shell and Exxon are all expected to announce profits in Q1 2021 following a turbulent 2020. The three companies are profiting from increased oil demand and a rise in oil prices, giving analysts hope for a strong year in oil and gas. Shell announced this week that it expects to make its first profit from oil production in the first quarter of 2021 since the beginning of the Covid-19 pandemic. The company s upstream unit, which mainly manages crude exploration and production, has gained from the surge in oil prices over the past
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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.
April 08, 2021
HNI investors have displayed extraordinary enthusiasm in the recent IPO frenzy but good times seem to be petering out - Getty Images/iStockphoto
HNI investors have displayed extraordinary enthusiasm in the recent IPO frenzy but good times seem to be petering out - Getty Images/iStockphoto×
Firm will use funds to reduce debt
Mumbai-based road and infrastructure operator Shrem Group is planning to raise ₹600 crore through an initial public offering of its Shrem Infrastructure Investment Trust (Shrem InvIT), which will open for subscription this month.
The IPO will be a fresh issue of 6 crore units of ₹100 each and the firm will use the proceeds to pare debt.
(File photo)
MUMBAI: US-based private equity fund manager Oaktree Capital Management has emerged the highest bidder for Dewan Housing Finance (DHFL) in the latest round of the race to acquire the troubled company. However, Piramal Group has offered the highest amount upfront. Adani Group, which triggered the fourth round of bidding with an out-of-turn offer for the whole company, has taken a step back by quoting the lowest of the three.
A senior banker told TOI that a decision would be taken based on the net present value of the bids and the guarantees in respect of future payments. A large chunk of the upfront cash being offered by the bidders is the free cash lying with DHFL. Oaktree is understood to have bid over Rs 36,600 crore, with upfront cash of Rs 11,500 crore. This would include DHFL’s free cash, interest earnings and proceeds of the sale of its life insurance business.