National Infra Invest Fund

National Infrastructure Trust files papers with Sebi for Rs 1,600 cr IPO

National Infrastructure Trust, an infrastructure investment trust sponsored by Gawar Construction Ltd, on Tuesday filed preliminary papers with the capital markets regulator for Rs 1,600 crore Initial Public Offering (IPO). The IPO comprises a fresh issue of units aggregating up to Rs 1,200 crore and an Offer For Sale (OFS) of units valued up to Rs 400 crore by the sponsor selling unitholder, according to the Draft Red Herring Prospectus (DRHP). Proceeds from the issue are proposed to be utilised towards providing loans to the project SPVs (Special Purpose Vehicles) for pre-payment of external borrowings, in part or in full from financial lenders and loans to project SPVs for repayment of unsecured loans availed by the project SPVs from the sponsor. The issue will be made through the book building process wherein 75 per cent, excluding the strategic investor portion, will be available to institutional investors and 25 per cent to non-institutional investors. The sponsor of the iss

Shapoorji Pallonji sells entire stake in Jammu-Udhampur highway to NIIF

Contract for the project, which connects with Mata Vaishno Devi shrine, allowed the firm to collect a semi-annual sum for 20 years

Infrastructure in cloud cuckoo land

Nurturing ambition and setting high targets are important attributes of planning and governance

Energy sector to bag lion's share in NIP with Rs 24 trn investment

In a report released by the Finance Ministry on Tuesday, the Centre laid down the plans for increasing private participation in the energy sector, especially in power distribution

AIIB to mull $200 mn investment in National Investment & Infra Fund

NIIF has an aggregate target corpus of $2.1 billion