Shrem Group looks to sell 15% to raise Rs.600-Cr via InvIT issue

Shrem Group, founded by Nitan Chhatwal, is targeting to raise INR 600 crore by diluting a 15% stake in its infrastructure investment trust (InvIT) next week. The group, which had first attempted to raise the money through this route in April and faced delays because of the second wave of the COVID pandemic, is in talks with domestic investors, including family offices, corporates and high networth individuals, to raise the fund through a private listing. The minimum investment sought is INR 2 crore.