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.
Trust acquired 3 HAM projects, growing our AUM from Rs 138.47 Billion to Rs 149.97 Billion in FY 2025. Net Asset Value per unit stood at Rs 102.71 as of March 2025. Shrem InvIT acquired remaining 51% stake in Pathrapali Kathghora Highways Private Limited, a project located in Chhattisgarh, from Dilip Buildcon Limited and its affiliates, making it a 100% subsidiary of the Trust in FY 2024-25. It also acquired 100% share of APCO Arasavalli Expressway Private Limited, APCO Navkalyan Expressway Private Limited and Freedompoint Expressway Private Limited for consideration of Rs 28,038.07 Lakhs in FY25. The AUM of the Trust as on March 31, 2025 was Rs 14,997 Crores.
During the year 2024-25, operational projects valued at over Rs 70,000 Crores have been monetised, enabling sponsors to realise approximately Rs 11,500 Crores through the sale of stakes in 58 HAM assets. Nearly 37 road projects were made operational in FY25.