Spriha Srivastava
The Indian infrastructure developer will be launching its initial public offering (IPO) tomorrow with the aim of raising INR5.3bn. The company will use the funds to invest in capital equipment and repay existing loans.
Indian government-backed Rural Electrification Corporation (REC) has received infrastructure financing status from India’s central bank. The classification will enable REC to engage in infrastructure lending in a more flexible manner.
Hochtief Concessions, through its North American subsidiary, has secured financial close to design, build, finance and operate 18 police facilities in Ontario. The total cost of the project is estimated at C$412m with a concession period of 30 years.
According to reports, 3i is looking to make an investment of up to INR4bn in the build, operate, transfer (BOT) portfolio of KMC Constructions, a Hyderabad-based infrastructure developer with a focus on toll roads and highways.
Enam Group, an Indian financial advisory firm, is raising a $750m infrastructure fund to invest in sectors including power, ports, roads and airports. While 75% of the fund will be used for new and existing projects in the infrastructure sector, the remaining 25% will be used for unspecified related sectors.
A senior business delegation from Gujarat is currently in the UK to discuss trade and business opportunities with local private investors. The state presently has a total infrastructure investment of $37bn already under execution.
European fund manager, Cube Infrastructure, has made two appointments to its management team. The new appointees take the total number of professionals in the management team to 16.
Rob Gregor, head of infrastructure for AMP Capital’s European operations, has decided to quit the organisation with effect from November. Three other senior members of the infrastructure team in London have decided to follow him. Global head Phil Garling and others have been drafted in as replacements.
Ambalika Banerji, a managing director at Macquarie-SBI Infrastructure, is understood to have left the organisation after spending eight years with the team. While her whereabouts and future plans are currently unknown, it is believed that August 31 was her last day in the organisation.
A unit of Indian conglomerate Bajaj Group is to enter infrastructure financing and has appointed a chief executive to spearhead the new business. The company plans to provide financial solutions to private infrastructure developers in various sectors.