Mahindra Susten, the renewables energy platform of the Mahindra Group, has started the process to launch an infrastructure investment trust (InvIT). Kotak Mahindra, Axis and Avendus Capital have been mandated to run the process, said people in the know. Mahindra Susten’s businesses comprise the group’s renewable engineering, procurement and construction (EPC) unit (with more than […]
Luthra and Luthra Acts On 4th Consecutive Bond Raise By Virescent Renewable Energy Trust – EQMagPro
Luthra and Luthra Law Offices Banking and Finance team recently advised ICICI Bank Limited, Yes Bank Limited, and India Infrastructure Finance Company Limited in connection with the private placement of up to 1,500 NCDs aggregating to INR 150 crores in 2 series by Virescent Renewable Energy Trust. The transaction team comprised Karan Mitroo (Partner) and […]
Tata Power’s plan to reduce debt through InvIT gets delayed – EQ Mag Pro
The company was planning to bring down its gross debt to below Rs 25,000 crore from Rs 49,000 crore with the InvIT structure. Tata Power’s plans to reduce debt by hiving off its renewables energy businesses into an infrastructure investment trust (InvIT) has missed the March-end deadline. The company was planning to bring down its […]
Power Grid Corporation Takes Over Two New Transmission SPVs
The state-run firm had won Fatehgarh Bhadla Transco Ltd and Sikar New Transmission Ltd in competitive bidding conducted by REC Power Distribution Company Ltd. Power Grid is the first state-owned company to offer an infrastructure investment trust (InvIT) as part of the government’s brownfield asset monetization strategy. New Delhi: State-run Power Grid Corporation of India […]
PowerGrid InvIT Ends With 3 Per Cent Premium in Debut Trade
The stock made its debut at Rs 104, registering a gain of 4 per cent on the BSE. It further jumped 4.97 per cent to Rs 104.97 during the day. It closed at Rs 103, higher by 3 per cent. NEW DELHI: PowerGrid Infrastructure Investment Trust closed the trade with a premium of 3 per […]
Why A Renewables InvIT Is Critical For Tata Power’s Plan To Pare Debt
As shares of Tata Power Company Ltd. rose, tracking the equity rebound from pandemic-driven lows, investors also bet on the company’s plan to pare debt. But one key milestone for the planned deleveraging has missed the deadline. The power generator planned to hive off its renewables portfolio into an infrastructure investment trust. The InvIT transaction […]
Virescent Infrastructure assigned provisional ‘AAA’ rating by CRISIL for its proposed invIT
– CRISIL has assigned a provisional ‘AAA/Stable’ rating for the bank loan facilities of Virescent Renewable Energy Trust (VRET) – VRET is India’s first renewable energy InvIT proposed to be launched by Virescent Infrastructure, a renewable energy platform in India backed by KKR – Virescent’s VRET aims to achieve approximately 1.5 GW of assets in the next 2-3 years National: […]
GAIL plans to launch pipeline InvIT before company’s split
The nation’s top gas marketing and transportation firm plans to monetise Dahej-Uran-Panvel-Dabhol pipeline and Dabhol-Bengaluru pipeline by setting up an Infrastructure Investment Trust (InvIT) NEW DELHI: State-owned gas utility GAIL (India) Ltd plans to launch an InvIT of its two gas pipelines between Dahej and Bengaluru ahead of a proposed splitting of the pipeline business […]
Tata Power Q2 net up 10 pc to Rs 371 cr
On a consolidated basis, Tata Power Group’s Q2 FY21 revenue was up by 15 per cent at Rs 8,413 crore as compared to Rs 7,329 crore last year New Delhi: Tata Power on Tuesday posted a 10 per cent increase in consolidated net profit at Rs 371 crore for the quarter ended September 2020. “Consolidated […]
InvITs to acquire over Rs 4 trillion of infra assets in five years: Icra
At present, there are six InvITs which have raised over Rs 27,600 crore from investors, while a seventh entity is in advanced stage of raising Rs 25,200 crore, Icra said Infrastructure Investment Trusts (InvITs) are likely to acquire infrastructure assets worth over Rs 4 lakh crore in the next five years as the market matures, […]
