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Spotlight: CPPIB-backed NHAI InvIT on a smooth ride but faces a few bumps

VCCircle

VCCircle · 1y ago

Spotlight: CPPIB-backed NHAI InvIT on a smooth ride but faces a few bumps

The National Highways Authority of India (NHAI) recently announced a new corporate strategy for its infrastructure investment trust (InvIT), National Highways Infra Trust (NHIT). While this rebranding is not a major development on its own, it highlights the challenges faced by NHIT in attracting investors due to concerns about the performance of the Indian toll road sector. However, the backing of the Canada Pension Plan Investment Board (CPPIB) provides some reassurance and may help attract more investment.

Related News

Canadian pension funds CPPIB, OTPP invest another $485 mn in NHAI InvIT

VCCircle

VCCircle · 5m ago

Canadian pension funds CPPIB, OTPP invest another $485 mn in NHAI InvIT

Canadian pension funds CPPIB and OTPP have invested $485 million in the National Highways Authority of India's infrastructure investment trust (NHAI InvIT) as part of an $8,340 crore equity fundraising round. Other contributors include Indian pension funds, insurance companies, and financial institutions. This marks the fourth investment by CPPIB and OTPP in NHIT, totaling Rs 11,520 crore. The funds will acquire road concessions across India, expanding NHIT's toll road operations significantly.

Canadian pension funds CPPIB, OTPP invest $438 mn more in India roads portfolio

VCCircle

VCCircle · 1y ago

Canadian pension funds CPPIB, OTPP invest $438 mn more in India roads portfolio

Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan (OTPP) have invested a combined total of $438 million in an infrastructure investment trust (InvIT) sponsored by the National Highways Authority of India (NHAI). This marks the third investment by the two pension funds in NHIT, bringing their total commitment to $878 million. The funds will continue to own 25% of the trust after this latest investment. The additional capital raised will be used by the InvIT to acquire seven road concessions in India, expanding its portfolio to 15 toll roads across multiple states.

Grapevine: ITC, Aditya Birla Group, NHAI InvIT, Morarjee Textiles in news

VCCircle

VCCircle · 6m ago

Grapevine: ITC, Aditya Birla Group, NHAI InvIT, Morarjee Textiles in news

ITC Ltd is reportedly ahead in acquiring a paper and pulp manufacturer from the Aditya Birla Group. Meanwhile, three parties are interested in acquiring the bankrupt Morarjee Textiles Ltd. Additionally, the infrastructure investment trust (InvIT) backed by the National Highways Authority of India (NHAI) aims to raise new capital.

Bottomline: CPPIB-backed Powergrid InvIT in robust health as profit jumps

VCCircle

VCCircle · 1y ago

Bottomline: CPPIB-backed Powergrid InvIT in robust health as profit jumps

Powergrid Infrastructure Investment Trust (Powergrid InvIT) has reported a significant increase in profits, indicating robust financial performance. Despite a 10% loss for those who purchased units in May 2021, the company has delivered positive returns for those who invested in mid-October 2022. Supported by the Canada Pension Plan Investment Board (CPPIB), Powergrid InvIT has demonstrated its resilience and potential as an investment opportunity in the Indian stock market.

CPPIB quietly spins one of its best returns from India harvest

VCCircle

VCCircle · 6m ago

CPPIB quietly spins one of its best returns from India harvest

Canada Pension Plan Investment Board (CPPIB) has made a successful exit from an investment in its Indian portfolio, marking one of its best returns. Despite slowing down its private equity investments in India recently, CPPIB, North America's largest public pension fund, had made a few key bets including a private credit deal. The exit signifies a strategic achievement for CPPIB in the Indian market, reflecting its cautious yet fruitful investment approach.

Investcorp-backed NDR Warehousing lists InvIT after $106 mn issue

VCCircle

VCCircle · 1y ago

Investcorp-backed NDR Warehousing lists InvIT after $106 mn issue

NDR Warehousing Pvt. Ltd, backed by Bahrain-based Investcorp, has listed India's first perpetual warehousing and industrial parks infrastructure investment trust (InvIT) on the National Stock Exchange. The InvIT, named NDR InvIT Trust, saw investors fully subscribing to privately placed units worth $106 million. Investcorp led a $55 million investment round in NDR Warehousing in February 2022. The InvIT will manage 33 warehouses across India, with Investcorp holding a 21.31% ownership interest in the trust.

Spotlight: Can Gaja-backed Kinara Capital bounce back as stress rises, loss widens?

VCCircle

VCCircle · 5m ago

Spotlight: Can Gaja-backed Kinara Capital bounce back as stress rises, loss widens?

Kinara Capital, a non-bank lender backed by Gaja Capital and impact investors, faces significant losses this financial year. The surge in bad loans and write-offs has increased credit costs and led to credit rating downgrades.

Bottomline: How PE-backed Cube Highways’ InvIT performed in its first year of listing

VCCircle

VCCircle · 1y ago

Bottomline: How PE-backed Cube Highways’ InvIT performed in its first year of listing

Cube Highways Trust, the infrastructure investment trust (InvIT) backed by private equity firm I Squared Capital, generated a yield of slightly over 10% from its portfolio and saw toll revenue growth of nearly 12% in its first year of listing, FY24. The InvIT experienced consolidated performance across its portfolio of highways and road concessions in India.

RBI to tap NHAI, NPCI to fix rescue plan for Paytm users

Economic Times

Economic Times · 1y ago

RBI to tap NHAI, NPCI to fix rescue plan for Paytm users

The Reserve Bank of India (RBI) will meet with the National Highways Authority of India (NHAI) and National Payments Corporation of India (NPCI) next week to finalize plans for migrating merchants and consumers from Paytm. This comes after regulatory restrictions were imposed on Paytm's payments bank, causing uncertainty among customers and merchants. The discussions will focus on addressing transition issues and ensuring a smooth experience for users. The RBI will release frequently asked questions (FAQs) to provide clarifications on the situation.

CPPIB-backed developer taps offshore investor for Chennai office park

VCCircle

VCCircle · 1y ago

CPPIB-backed developer taps offshore investor for Chennai office park

Infopark Properties Ltd, a real estate development company in India, is seeking funding from offshore investors for an office park project in Chennai. The company, backed by Canada Pension Plan Investment Board (CPPIB), is looking to raise capital for the Ramanujan Intellion Park in Tamil Nadu.

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