InvIT

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

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.

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

To retire debt of seven road projects that it will acquire

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

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

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

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

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

To fund acquisition of three projects from NHAI, with which it will sign a concession agreement for 20 years

Both the finance ministry and Union cabinet have recently come down heavily on railways and asked it to expedite its monetisation efforts

NHAI chairperson Alka Upadhyaya said with the success of NHAI InvIT, the state-owned agency has continued to deliver on its commitments under the National Monetisation Pipeline (NMP)

Existing loans pertain to 17 projects; firm proposes to 18 toll road assets and one annuity road asset from the sponsor Singapore-based Cube Highways group

IL&FS Transportation Networks Ltd, in a stock exchange filing, said the company has received the final consideration in the form of 59.04 million units of Rs 100 each issued by the InvIT

The decisions will mean EPFO is diversifying its investments into asset classes that will enhance the yield on investments, but also carry fair amount of risks

CPPIB, Ontario Teachers' Pension Plan will be anchor investors of Rs 6k-cr issue

With the NCLT approval, a total of 11 projects would be ready for monetisation through the InvIT route

Virescent Renewable Energy Trust was floated in February this year by Virescent Infrastructure, which was set up in 2020 and is backed by global investment firm KKR

Company says it incurred a capex of Rs 5,000 crore on these two pipelines, silent on project names

The initial set of roads to be offered via the InvIT are part of national corridors, providing long-term prospects