Piramal Capital may get majority support in two Supreme Infra projects.

Q: The stake in two build-operate-transfer road projects is in consideration for Rs. 700 crore, said people familiar with the matter.

Dhiraj,

6th January 2015

Real estate News in Mumbai

piramal capital

supreme infrastructure india ltd

piramal enterprises ltd

navayuga road projects pvt. ltd

green infra ltd

idfc alternatives ltd

apg asset management nv

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The investment arm focused towards infrastructure assets plans to invest Rs.5000 cr by 2016. On July 30, 2014, Piramal Enterprises and Dutch pension fund APG Asset Management NV formed a joint venture to invest $1 billion in mezzanine securities of Indian infrastructure firms over next 3 years. Piramal Enterprises and APG have initially committed $375 million each for investments under the strategic association.

Saran,

6th January 2015

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In an interaction with Mint in June last year, Jayesh Desai, co-head of structured investments group, had indicated that they are looking to invest in road, power and renewable energy assets, with a focus on operational road assets.

Pranab Malakar,

6th January 2015

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But Since nothing is of definite nature and nothing has been approved by the board or duly empowered committee it is difficult for them to comment on the same at this stage. Once completed this would be the first equity investment of Piramal Capitals structured investment group. It has concluded two debt investments prior to this. In April 2013, Piramal Enterprises invested Rs. 425 cr in Hyderabad-based Navayuga Road Projects Pvt. Ltd and Rs. 500 cr in Green Infra Ltd, a renewable energy firm promoted by IDFC Alternatives Ltd.

Saran,

6th January 2015

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In a clarification to the stock exchanges, Piramal Enterprises Ltd, the holding company of Ajay Piramal Group told that the company from time to time explores various investment opportunities as part of its structured investment business, in the normal course of its business.

Pranab Malakar,

6th January 2015

Comment

Yes Pranab,
They are currently in negotiations and discussions with some funds and strategic investors for a stake sale in our BOT portfolio. Some of these discussions are at a very advanced stage but nothing officially has been committed.

Saran,

6th January 2015

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It is heard that the structured investment group of Piramal Capital is in negotiations to get majority stake in two build-operate-transfer (BOT) road projects of Supreme Infrastructure India Ltd for a consideration of Rs.700 crore.

Pranab Malakar,

6th January 2015

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