Dadachanji Group Chairman increases stake in Shrem InvIT

A group of investors led by Kairus Shavak Dadachanji has invested Rs 1.77 billion ($21.4 million) in Shrem Infrastructure Investment Trust (InvIT). Through open market transactions, Dadachanji and other investors acquired 15.6 million shares of the InvIT from Shrem Infra Structure Pri­vate Limited for Rs 114 per share. Of this, Dadachanji alone bought 9 million units for about Rs 1.02 billion. Post the latest investment, Dadachanji owns 5 per cent of the units of the InvIT.