A decade-long wait by India’s cash-hungry real estate and infrastructure developers may finally be nearing an end. Birla Sun Life Asset Management Co. estimates that real estate and infrastructure trusts will raise as much as 600 billion rupees ($9 billion) this year as India rolls out the much-anticipated investment products mooted in 2007. Sterlite Power Transmission Ltd. and IRB Infrastructure Developers Ltd. are racing to be the first to launch an infrastructure investment trust, people with knowledge of the matter said, after the regulator allowed domestic funds to put money into assets such as toll roads, airports and office blocks.
India is seeking to replicate the success of similar trusts in the U.S., Singapore and Australia, where investors have flocked to assets that offer higher yields as those on global bonds languished near record lows. A new funding source may be crucial to the success of Prime Minister Narendra Modi’s goal of developing adequate electricity and water supplies as well as transport and digital connectivity. Read More…
Credit By : Financialexpress.com
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