Australia’s AMP Capital proposes $73m investment in India’s Sadbhav Infrastructure
Photo: Engin Akyurt / Unsplash.com
May 7, 2021
AMP Capital, a global investment manager owned by Australian retail and corporate pension conglomerate AMP Group, is making its first infrastructure debt investment in India by proposing a $73 million investment in listed firm Sadbhav Infrastructure.
The investment, which will be in the form of non-convertible debt debentures on a private placement basis, will be a first in India for AMP Capital’s recently established Infrastructure Debt Asia strategy.
AMP Capital earlier said its new Infrastructure Debt Asia strategy seeks to help investors from around the world capitalise on emerging growth opportunities in the region, as demand for basic infrastructure in developing economies continues to increase.
Indian stocks likely to witness positive momentum as optimism emerge on Covid front
May 07, 2021
×
Stocks to watch out for today: CG Power, Sadbhav Infra, Aurionpro, Cupid, Shri Bajrang Alliance, and Zensar Tech.
Positive momentum is likely to continue for Indian stock markets on Friday, thanks to bullish global cues. SGX Nifty is currently ruling at 14,875 (800 am IST), signals a 100-point gap up opening for Nifty futures, which on Thursday closed at 14,769.95.
The US stocks overnight closed strongly higher, with Dow Jones gaining over 300 points and the tech-focused Nasdaq 50 points. Asian stock markets in the morning session too followed suit, as Japan s Nikkei, Korea s Kospi, Taiwan Weighted Index and Australia s ASX are ruling with a gain of between 0.3 per cent and 0.8 per cent.
Canada Pension Plan Investment Board (CPP Investments), the largest Canadian pension fund manager, today said it bought an additional 15.9 per cent of the total units in IndInfravit Trust for Rs 1,005 crore. The units were bought in two separate deals. CPP Investments has acquired seven per cent of the units from Sadbhav Infrastructure Project and will acquire an additional 8.9 per cent from L&T IDPL, which, upon completion, will increase CPP Investments’ stake in IndInfravit from 27.9 per cent to 43.8 per cent . IndInfravit is an infrastructure investment trust (InvIT) sponsored by L&T Infrastructure Development Projects Limited . Launched in 2018, IndInfravit acquires and maintains stable brownfield road concessions in the country.
Nifty to tumble over 130 points on weak global cues
April 30, 2021
Spotlight will be on quarterly results and progress of Covid-19 vaccination
Indian markets are expected to open slightly lower on Friday, amidst weak global cues emanated from Asian markets. The SGX Nifty, which currently rules at 14,770 at the Singapore Stock Exchange, indicates at least 130 points gap-down opening for Nifty futures, which on Friday closed at 14,901.
According to analysts, the focus will be on progress in Covid pandemic and corporate results.
Though the US market closed on strong note overnight, Asian markets from Japan, to Korea; and Australia to Taiwan are ruling weak in early trade on Friday, as China’s crackdown on technology firms affected the sentiment. The US market overnight ended firm due to strong GDP data.
Sadbhav Infrastructure Project Limited to sell units of Indinfravit Trust equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.