Shrem InvIT scraps NCD plan; opts for loan to acquire 10 road SPVs

Shrem InvIT has called off its plan to raise Rs 10 billion via debentures to complete the acquisition of 10 special purpose vehicles (SPVs) associated with roads belonging to Dilip Buildcon Limited. The infrastructure investment trust (InvIT) will instead raise Rs 8.60 billion via term loans. By the end of Q4 2023-24, Shrem InvIT aims to acquire all new SPVs. The provisional completion dates for all 10 projects have been achieved, and annuities for eight of these projects are due and have been received.