Shrem InvIT was incorporated as an irrevocable Trust under the provisions of Indian Trusts Act, 1882 on December 31, 2020 and registered as an Infrastructure Investment Trust under the Securities and Exchange Board of India (Infrastructure Investment Trust) Regulation, 2014 on February 04, 2021. The Fund is settled by the Sponsor, Shrem Infra Structure Private Limited (the Sponsor), an infrastructure development company in India. The Trustee to the Fund is Axis Trustee Services Limited. Whereas, the Investment Manager for the Fund is Shrem Financial Private Limited.
The Fund has been formed to invest in infrastructure assets primarily being in the road sector in India. All of the Fund's road projects are implemented and held through holding Companies and special purpose vehicles as listed. The trust portfolio of assets comprises 24 road project SPVs acquired by the sponsor through three companies namely, Shrem Roadways Private Limited (SRPL), Shrem Infraventure Private Limited (SIPL) and Shrem tollways Private Limited (STPL). These 3 companies were acquired by trust through sponsor on September 16, 2021.
The Shrem Group was founded in 2010 by Nitan Chhatwal, and has managed diverse investments in the hospitality, health care, real estate, and infrastructure sectors. The Sponsor has set up the Trust, which is acquiring 100% of the issued and paid-up equity share capital of Shrem Infraventure Private Limited, Shrem Roadways Private Limited, and Shrem Tollway Private Limited respectively.
Shrem InvIT got its units listed on National Stock Exchange (NSE) and commenced operation from the month of September 2021 by acquiring sizable portfolio of 24 road infra-assets. In addition to existing portfolio of 24 road projects, the InvIT is presently in the process of acquiring 10 road assets in sync with its sustainable growth strategy.
In 2023-24, Shrem InvIT acquired four HAM projects following DBL Chandikhole Bhadrak Highways Ltd., DBL Bangalore Nidagatta Highways Pvt. Ltd, DBL Nidagatta Mysore Highways Pvt. Ltd. and DBL Rewa Sidhi Highways Pvt. Ltd. and 49% stake in one HAM project from Dilip Buildcon Limited (DBL) and its affiliates that follows Pathrapali Kathgora Highways Pvt. Ltd. Pathrapali-Kathghora Highways Private Limited became an Associate of the Company effective from October 31, 2023.