Overview
Infrastructure India’s investment objective is to provide capital growth and income by investing in infrastructure projects in India, with a particular focus on the energy and transport sectors. The Company aims to invest in assets that are expected to generate a base IRR of 15% per annum. The Directors believe that the Group’s returns could be raised to 25% due to additional potential gains from refinancing, yield compression effects and portfolio management efficiencies, as has been achieved by other listed infrastructure companies. In reality though investing in these projects in India has sometimes been a frustrating process.
The fund’s website can be found here.
Research History
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09 Oct 2020 7 min read
QuotedData’s Investment Companies Roundup – October 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over September: Standard Life Investments Property Income Trust – […]
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17 Apr 2020 8 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
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07 Apr 2020 5 min read
QuotedData’s Economic Roundup – April 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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07 Feb 2020 7 min read
QuotedData’s Investment Companies Roundup – February 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over January: An annual overview note on Shires Income (SHRS) “Shires Income (SHRS) will […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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10 Jan 2020 5 min read
QuotedData’s investment companies roundup – January 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Income Events New research Here is a list of research we published over December: An update note on BlackRock Throgmorton (THRG) “BlackRock Throgmorton continues to lead its peer group in […]
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8 min read
QuotedData’s economic roundup – January 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Oct 2019 6 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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08 May 2019 3 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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12 Oct 2018 1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in September Trian Investors 1 is a new fund that will adopt […]
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14 Sep 2018 1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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15 Aug 2018 1 min read
QuotedData’s investment companies roundup – August 2018
QuotedData’s investment companies roundup – August 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in July Tritax EuroBox raised its maximum target of £300 million in an […]
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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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11 Jun 2018 1 min read
QuotedData’s investment companies roundup – June 2018
QuotedData’s investment companies roundup – June 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2018. Kindly sponsored by Baillie Gifford. The premium of biotech company, Syncona, rose on positive news on two of its […]
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11 May 2018 1 min read
QuotedData’s investment companies roundup – May 2018
QuotedData investment companies roundup – May 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2018. Kindly sponsored by Baillie Gifford. India Capital Growth has experience a rebound in performance in the past month, as […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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10 Jan 2018 2 min read
QuotedData investment companies roundup – January 2018
QuotedData investment companies roundup – January 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2017. Kindly sponsored by Baillie Gifford. January Investment Companies Roundup Winners and losers in December Infrastructure India’s share price […]
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11 Dec 2017 2 min read
QuotedData investment companies roundup – December 2017
QuotedData investment companies roundup – December 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2017. Kindly sponsored by Baillie Gifford. December Investment Companies Roundup Money raised and returned in November There were no […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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12 Oct 2017 1 min read
QuotedData investment companies roundup – October 2017
QuotedData investment companies roundup – October 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2017. Kindly sponsored by Baillie Gifford. October Investment Companies Roundup Amongst the top performers, Alternative Liquidity Fund sold its […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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14 Jun 2017 1 min read
QuotedData investment companies roundup – June 2017
QuotedData investment companies roundup – June 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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01 Aug 2024 2 min read
QuotedData’s morning briefing 1 August 2024 – IIP, HEIT, RICA, CAL, RESI, PSDL, RCP
In QuotedData’s morning briefing 1 August 2024: Infrastructure India’s (IIP) nominated adviser has resigned. It doesn’t think that it can appoint a replacement. AIM Rule 1 provides it with one month to appoint a replacement nominated adviser. If no replacement nominated adviser is appointed within that timeframe, the admission of the company’s AIM securities will […]
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16 Jul 2024 1 min read
Board issues halt Infrastructure India as shares suspended
The struggles with Infrastructure India (IIP) have continued as it has announced that following the director resignation announced on 12 July 2024, the board, which comprises two directors, is no longer quorate under the company’s articles of association and is therefore not able to operate effectively, with the powers of the directors limited to the […]
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28 May 2024 1 min read
QuotedData’s morning briefing 28 May 2024 – FGT, IIP
In QuotedData’s morning briefing 28 May 2024: Finsbury Growth & Income Trust (FGT) announced its interim results for the six months ended 31 March 2023. The company’s NAV total return was 5.9% while shares were up 2.7%, underperforming its benchmark index which rose 6.9% over the same period. The principal contributors to the company’s net […]
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26 Mar 2024 1 min read
Infrastructure India continues to flounder
Infrastructure India (IIP) announced its annual results for the 12 months ended 31 March 2023. The company has been selling off assets over the period, with the value of these now standing at £99.1m, down 40% from the same time last year. Net liabilities were £184.9m as at 31 March 2023. The group had gross […]
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30 Oct 2023 1 min read
QuotedData’s morning briefing 30 October 2023
In QuotedData’s morning briefing 30 October 2023: Chrysalis Investments (CHRY) has provided a quarterly NAV update. The NAV for 30 September 2023 was 134.75p per share, a (1.6%) decrease since 30 June 2023. There was only one instance of portfolio activity over the quarter, a further £6.5m investment in Secret Escapes as part of a […]
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25 Sep 2023 1 min read
QuotedData’s morning briefing 25 September 2023
In QuotedData’s morning briefing 25 September 2023: Round Hill Music (RHM) has announced the publication of a scheme document which outlines the actions required, timetable, and recommendations in respect of the purchase offer made for the trust. Shareholders will be given the opportunity to vote on the offer at a General Meeting to be held […]
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07 Sep 2023 2 min read
Infrastructure India sells prime asset but not for cash
Infrastructure India is selling its interest in 99.99% of Distribution Logistics Infrastructure Private Limited to Pristine Malwa Logistics Park Private Limited. Pristine Malwa is a wholly owned subsidiary of Pristine Logistics and Infraprojects Limited. The Pristine Group provides end-to-end multi cargo logistics solutions, and services including port handling, road and rail transport, warehousing, shipping, stevedoring, […]
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31 Aug 2023 1 min read
QuotedData’s morning briefing 31 August 2023, BCPT, NAVF, IIP
In QuotedData’s morning briefing 31 August 2023: Balanced Commercial Property Trust (BCPT) says it has secured two key leasing initiatives in its industrial portfolio. At unit 8, Hams Hall Distribution Park, Birmingham, Nestle Purina, a leading pet care and food company, has agreed a 10-year lease extension commencing March 2025, with a break at the […]
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17 Apr 2023 1 min read
QuotedData’s morning briefing 17 April 2023
In QuotedData’s morning briefing for 17 April 2023: RTW Venture Fund (RTW) has announced that its largest holding, Prometheus Biosciences (equal to c14.8% of RTW’s NAV) has been acquired by Merck for $200 per share, a 75% premium to its prior closing price. This would value Prometheus at c.$10.8bn. Prometheus is a clinical-stage biotechnology company […]
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04 Apr 2023 2 min read
QuotedData’s morning briefing 4 April 2023
Digital 9 infrastructure (DGI9) issued a statement regarding its share price. The board and the investment manager confirmed that they are not aware of any portfolio-specific factors that have led to the recent decline in the share price. The board believes that the discount to NAV at which the company’s share price currently trades materially […]
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21 Dec 2022 2 min read
Infrastructure India no longer a going concern
Infrastructure India (IIP) has announced its annual results for the twelve months ended 31 March 2022. The key takeaways, from what we can see, are that IIP now has a value per share of 0p, or nil, and the accounts have not been prepared on a going concern basis. [QD comment: Unfortunately, this is no […]
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29 Nov 2022 1 min read
QuotedData’s morning briefing 29 November 2022
In QuotedData’s morning briefing 29 November 2022: Syncona (SYNC) appears to have secured control of Applied Genetic Technologies Corporation, with about 51.8% of that company’s shares tendered to Syncona’s bid. The tender offer is being extended until 5pm (Eastern time) tomorrow (30 November). Separately, Syncona reports that it will receive £16m up front and potentially […]
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21 Apr 2022 2 min read
QuotedData’s morning briefing 21 April 2022
In QuotedData’s morning briefing 21 April 2022 the news is dominated by annual results, but we also have: An unusual advance on the sale proceeds of Infrastructure India’s (IIP) wind farm assets – the buyer AVSR Constructions is supposed to pay INR 550m (approximately £5.5m), but the seller is yet to satisfy all the conditions […]
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05 Apr 2022 2 min read
QuotedData’s morning briefing 5 April 2022
In QuotedData’s morning briefing 5 April 2022: Digital 9 Infrastructure (DGI9) has completed the acquisition of Leeson Telecom (Host Ireland), a leading enterprise broadband provider in Greater Dublin. The purchase price was about €60m. Host Ireland owns and operates the highest capacity licensed microwave-based Fixed Wireless Access network in Greater Dublin. It provides high quality, […]
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28 Feb 2022 3 min read
QuotedData’s morning briefing 28 February 2022
In QuotedData’s morning briefing 28 February 2022: European Opportunities (JEO) has posted its interim results for the six months to 30 November 2021, during which time its NAV (with dividends reinvested) increased by 12.8% while its share price (with dividends reinvested) increased by 9.9%. This compares with a return of 3.8% from the MSCI Europe […]
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13 Jan 2022 1 min read
Infrastructure India gets two more months
Infrastructure India gets two more months – Infrastructure India says that, since it announced in its interim results that forecasts indicated that the company did not have sufficient cash reserves to meet creditors as they fall due beyond January 2022, it has agreed with certain creditors that they will withhold demanding payment for invoices falling […]
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24 Dec 2021 2 min read
QuotedData’s morning briefing 24 December 2021
In QuotedData’s morning briefing 24 December 2021: Octopus Renewables Infrastructure Trust (ORIT) has completed its purchase of two onshore wind farms in Finland for about €140m. The Saunamaa and Suolakangas wind farms have a combined installed capacity of 71.4MW, and are in the final stages of commissioning, but the risks associated with the residual construction […]
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14 Sep 2021 2 min read
QuotedData’s morning briefing 14 September 2021
In QuotedData’s morning briefing 14 September 2021: Henderson High Income, managed by David Smith (pictured), made a great start to 2021 outperforming its benchmark by 3.9% to produce an NAV return of 12.3% for the six months ended 30 June. Shareholders did much better than that though as the discount was eliminated, providing a return […]
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18 Dec 2020 2 min read
QuotedData’s morning briefing 18 December 2020
In QuotedData’s morning briefing 18 December 2020: Ecofin U.S. Renewables Infrastructure Trust has announced that its IPO has raised gross proceeds of $125 million. Commitments under the Placing and applications under the Offer for Subscription have been satisfied in full at the Issue Price of $1.00 per Ordinary Share. It is expected that Admission will become […]
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18 Nov 2020 1 min read
QuotedData’s Morning Briefing 18 November 2020
In QuotedData’s Morning Briefing 18 November 2020 – Ahead of its AGM on 25 November 2020, JPEL Private Equity (JPEL) provided an update on its realisation strategy, noting that its manager is in advanced negotiations to sell its largest asset, its interest in MBI Holding. The transaction price would be around its carrying value with […]
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23 Oct 2020 2 min read
Death by a thousand cuts – Infrastructure India NAV takes another hit
Infrastructure India (IIP) has announced its final results for the year 31 March 2020, during which its NAV has taken another hit. As at 31 March 2020, the IIP’s total net assets were £124.1 million in total and 18.2p per share, from £149.1 million in total and 21.9p per share as at 30 September 2019. […]
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3 min read
QuotedData’s morning briefing 23 October 2020
In QuotedData’s morning briefing 23 October 2020: Associated Capital Group (AGC), the large Shareholder associated with the manager of Gabelli Value Plus+ Trust, that is also blocking the winding of said trust, has requisitioned GVP’s board to call a general meeting. A link to a copy of the letter is provided below, but the key takeaways […]
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28 Apr 2020 2 min read
QuotedData’s morning briefing 28 April 2020
In QuotedData’s morning briefing 28 April 2020: Supermarket Income REIT raised £139.8m (versus an original £75m target) in a heavily oversubscribed issue of 135,748,028 new ordinary shares at 103p. This is an amazing result, especially in the current environment, and demonstrates investors’ need for certainty of income at this time. Picton Property has cut its quarterly […]
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17 Mar 2020 1 min read
Update from Infrastructure India
Infrastructure India (IIP) has released the following update with respect to its largest holding, Distribution Logistics Infrastructure Limited (DLI), and covid-19. “During the first quarter of the calendar year, DLI performed well, with increased revenue and lower quarter on quarter costs and timely project completion. Construction at Nagpur, including a private freight terminal and additional warehousing, […]
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02 Jan 2020 1 min read
QuotedData’s other news 2 January 2020
In QuotedData’s other news 2 January 2020 – Infrastructure India (IIP) announced that Tim Walker, a non-executive director of the company, will step down from the Board on 31 March 2020. We also have news of a completed battery-only investment by Gresham House Energy Storage and portfolio announcements by Regional REIT and CLS Holdings.
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18 Dec 2019 1 min read
QuotedData’s other news 18 December 2019
In QuotedData’s other news 18 December 2019 Sun Life Financial has bought a majority stake in Infrared Capital Partners, the investment adviser to HICL Infrastructure and The Renewables Infrastructure Group. This won’t have any impact on the day-to-day running of the funds. Infrastructure India has maxed out its $105m borrowing facility, borrowing another $30m to develop […]
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27 Sep 2019 1 min read
QuotedData’s other news 27 September 2019
In QuotedData’s other news 27 September 2019 Pacific Alliance China Land confirmed its planned delisting and liquidation, saying it would complete by the end of the year. Hipgnosis is asking shareholders to approve the issuance of 1bn C shares and has upped the maximum amount it will seek to issue now from 300m to 500m. Infrastructure […]
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02 Apr 2019 1 min read
Infrastructure India reaches $105m loan agreement
Infrastructure India reaches $105m loan agreement – Infrastructure India (IIP) has agreed a conditional proposed financing worth up to $105m with IIP Bridge Facility, an affiliate of GGIC. The loan is expected to provide capital to allow distribution logistics infrastructure private (DLI), a subsidiary of IIP, to complete, commission and ramp up all of its […]
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05 Feb 2019 1 min read
Infrastructure India edging closer to insolvency?
Infrastructure India edging closer to insolvency? – Infrastructure India has requested, but not yet been granted, a further extension of the date of maturity of the existing US$53.4 million unsecured bridging loan facility and the existing US$21.5 million working capital loan, both of which matured on 4 February 2019. On 31 July 2018, it announced that […]
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07 Dec 2018 2 min read
Infrastructure India gets another loan extension
Infrastructure India (IIP) has announced that it has agreed extensions to the maturity of two of its loans. These are an existing US$48.4m unsecured bridging loan facility (originally provided to the Company in June 2017 by Cedar Valley Financial) and an existing US$21.5m working capital loan (originally provided to the Company in April 2013 by […]
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31 Jul 2018 2 min read
Infrastructure India gets a £95.5m life line from PSA
Infrastructure India gets a £95.5m life line from PSA – Infrastructure India (IIP) has announced that it has agreed a conditional proposed financing with PSA International and Gateway Partners and that US$125 million (approximately £95.5 million), before expenses, will be made available to IIP (the Group). IIP has regularly announced increases in its bridging loans, bring the total to US$40.0m. […]
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27 Nov 2017 2 min read
Infrastructure India in refinancing discussions
Infrastructure India in refinancing discussions. In May Infrastructure India plc provided the following update: On 6 April 2017, Infrastructure India announced that the maturity date of the fully drawn US$17 million working capital loan facility provided to the company by GGIC, Ltd in April 2013 had been extended to 9 June 2017. The company does not currently have […]
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28 Sep 2017 4 min read
Auditor declines to offer opinion on Infrastructure India accounts
Auditor declines to offer opinion on Infrastructure India accounts – Infrastructure India has published results for the year ended 31 March 2017 – which are, of course, somewhat out of date now. They say that the Net Asset Value decreased to £282m as at 31 March 2017 and the NAV per share was […]
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06 Apr 2017 2 min read
Infrastructure India can’t pay back working capital loan
Infrastructure India plc announces that it has agreed an extension of the US$17 million working capital loan facility provided to the Company in April 2013 such that the maturity date of the Loan has been extended to 9 June 2017. The Company does not currently have sufficient cash resources to repay the Loan. The Loan, which […]
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18 Feb 2017 2 min read
Infrastructure India reveals problems with logistics investment
Infrastructure India says that Distribution Logistics Infrastructure Limited (“DLI”) has, along with the wider logistics sector in India, experienced a dramatic deceleration of cargo movements in the immediate aftermath of the Government of India’s announcement of demonetisation and official withdrawal of certain high value currency denomination notes from circulation. India is an overwhelmingly cash economy […]
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07 Feb 2017 1 min read
All trust sectors bar one made money in ’16
UK Smaller Companies was the only investment sector to lose money in 2016 despite a turbulent political and economic landscape, new research has revealed. See more here
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15 Nov 2016 1 min read
UIL, Industrial Multi Property Third Quarter Winners – QuotedData
LONDON (Alliance News) – The best performer in both price and net asset value terms in the third quarter was UIL Ltd, boosted by its largest investment, Australian-listed Resolute Mining Ltd, which benefited from a strong gold price. Industrial Multi Property Trust PLC and Kubera-Cross Border Fund Ltd both saw recoveries in their share price […]
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15 Sep 2016 1 min read
Infrastructure India agrees new asset management contract
Infrastructure India plc has announced that on 14 September 2016 it entered into a revised and restated management and valuation and portfolio services agreement with Franklin Park Management, LLC, its existing asset manager, to effect a reduction in annual cash fees payable by IIP to the asset manager. The other terms of the new management agreement […]
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22 Jul 2016 3 min read
Infrastructure India sees NAV unchanged during half year
Infrastructure India has announced its annual results for the twelve months ended 31 March 2016. During the period, the value of the Company’s investments increased marginally to £334.5m as at 31 March 2016 (30 September 2015: £331.6m; 31 March 2015: £368.6m) whilst total net assets fell to £325.8m (30 September 2015: £329.3 million; 31 March […]
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29 Jun 2016 1 min read
Infrastructure India completes sale of toll road stake
Infrastructure India has announced that it has completed the sale of its entire 26 per cent interest in Western MP Infrastructure & Toll Roads Private Limited. The transaction was originally announced on 8 April 2016 and completed on 28 June 2016. Western MP Infrastructure & Toll Roads operates a 125km toll road in the central […]
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08 Apr 2016 2 min read
Infrastructure India sells toll road
Infrastructure India has announced that an agreement has been signed for the sale of its interest in Western MP Infrastructure & Toll Roads Private Limited (“WMP”). It is also providing an update on its largest portfolio asset, Distribution Logistics Infrastructure Limited (“DLI”). WMP operates a 125 kilometre toll road in the central Indian state of Madhya […]
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11 Dec 2015 3 min read
Infrastructure India suffers from weak currency and soft logistics market
Infrastructure India has announced its interim results for the six months ended 30 September 2015. The announcement says that the value of the Company’s investments decreased 10% to £331.6m during the period (£368.6m as at 31 March 2015), whilst its NAV decreased by 12% to £329.3m (£373.6m as at 31 March 2015). Reflecting this, the […]
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10 Jul 2015 1 min read
Infrastructure India’s NAV falls
Infrastructure India has published its results for the year ended 31 March 2015. Over this period the net asset value fell from 62p to 55p despite by strengthening of the Indian Rupee against Sterling at the end of the fiscal year, a decrease in the yield of the Indian 10 year bond, which serves as the […]
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10 Apr 2015 1 min read
Infrastructure India sets up incentive scheme for director
Infrastructure India has announced that its logistics terminal in Bangalore is now up and running. They have agreed a ten year business plan for Distribution Logistics Infrastructure Private Limited, the 99.9% subsidiary that is running the business. Vikram Viswanath, a non-executive director of Infrastructure India, is taking up the role of “Advisor” to the management team of […]
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11 Dec 2014 1 min read
Infrastructure India – dilutive issue wipes out value
Infrastructure India has published interim results for the six months ended on 30 September 2014. Over this period its net asset value fell from 62p to 43p – a fall of 31%. This was largely the consequence of a dilutive issue of shares at a price less than asset value in August. Unfortunately all these shares […]
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30 Oct 2014 1 min read
Infrastructure India unit restructures debt
IIP : Infrastructure India unit restructures debt Infrastructure India’s Distribution Logistics Infrastructure business (the new name for Vikram Logistic & Maritime Services) has agreed to restructure the debt it owes to its banks. It was paying 15.5% interest on loans with a maturity date of 2020. Under the new deal it won’t have to repay […]
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25 Sep 2014 1 min read
Flat NAV at Infrastructure India
IIP : Flat NAV at Infrastructure India Infrastructure India’s results for the year ended 31 March 2014 have been published today. As the figures are almost six months old they probably aren’t much use for investors but the company has released more detail on the progress of its investments. The net asset value decreased marginally […]
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22 Aug 2014 1 min read
Infrastructure India has raised £61m (us$102) from Barnet Holdings
IIP : Infrastructure India has raised £61m (us$102) from Barnet Holdings Infrastructure India has announced that it has placed 337,607,041 new 1p ordinary shares at 18p (a 24% premium above the mid-market closing price of 14.5p on the 14th July) raising £61m (US$ 102m) before expenses. In accordance with a subscription agreement, announced on 20 August 2014, Barnet Holdings Limited has subscribed […]
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21 Jul 2014 1 min read
Infrastructure India : IIP – Domestic operations at Nagpur commence
Infrastructure India’s 100% owned “Vikram Logistic and Maritime Services ” saw its Nagpur terminal facility commenced domestic operations on 18 July. Initial operations are for domestic containerised cargo only but movements of export-import cargo are currently scheduled for the second half of 2014. The terminal expects to commission an automobile logistics park, liquid tank farm and […]
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15 Jul 2014 1 min read
Infrastructure India : IIP – Fund raise
Infrastructure India has announced proposals to raise up to $102m (c £60m) by way of a placing at a price of 18p per share (closing price on 14 July = 14.5p). An EGM is being held on 11 August to seek the necessary authority from shareholders. IIP is an AIM quoted investment company focused on investment in Indian […]
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07 May 2014 1 min read
Infrastructure India : IIP – loan facility
Infrastructure India has arranged an $8.1m loan facility. The lender is Cedar Valley (an entity connected to GGIC who own more than 50% of the fund’s shares), the interest rate is 15%, there is an arrangement fee of $81,000 and the money is repayable on 30 November 2014. The loan proceeds will mostly be used […]
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10 Dec 2013 1 min read
Infrastructure India : IIP
Interim results for IIP for six months ended 30 September 2013. NAV falls to 63p from 78p. Fall in value of Indian rupee and increase in the Indian risk free rate (used to value investments) unhelpful, Vikram Logistics having difficulty in getting disbursement of approved debt which is holding up construction. Stakeholders in Shree Maheshwar Hydel Power […]
