Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Brookfield sponsored India Infrastructure Trust to acquire East-West Pipeline for Rs. 13,000 crore

Posted On: 2019-03-16 09:34:20

Brookfield has filed the preliminary placement memorandum, in terms of which India Infrastructure Trust, an InvIT set up by Brookfield as Sponsor and 90% investor, will invest Rs. 13,000 crore to acquire the East West Pipeline ("Pipeline"). As a part of the transaction, the InvIT will acquire 100% equity interest in Pipeline Infrastructure Private Limited ("PIPL") which currently owns and operates the Pipeline.

Pursuant to this acquisition by Brookfield, the existing pipeline usage agreement has been reworked as follows:

- The reserved capacity reduced to 33 MMSCMD against the 56 MMSCMD.

- Any unutilized capacity payment by RIL will be the difference between Rs. 500 crore a quarter and actual revenue earned by PIPL.

- RIL will continue to be entitled to transport gas, either by itself or of any customers, free of cost against any outstanding unutilized capacity payments.

At the current approved final tariff of Rs. 71.66/MMBTU, if the average volume of gas transported is 22 MMSCMD, RIL will not be liable to make unutilized capacity payments.

The next review of tariff in April 2020 will also consider upward revision to tariff arising from determination of lower revised capacity of the pipeline.

Considering the new investments in the upstream sector in the KG basin, and the growing LNG imports, ability to swap gas, the average volume expected to be transported through the pipeline is expected to be significantly higher compared to the current levels.

RIL will be entitled to a significant participation in the net earnings of PIPL under the mechanism specified in the pipeline usage agreement.

RIL's current investment in preference shares valued at Rs. 4,000 crore to continue and will be converted into equity at the end of 20 years.

Further at the end of 20 years, RIL has the right to acquire equity shares of PIPL held by the InvIT at an equity value of Rs. 50 crore.

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1346.75 as compared to the previous close of Rs. 1329.85. The total number of shares traded during the day was 1028000 in over 18754 trades.

The stock hit an intraday high of Rs. 1350 and intraday low of 1327.75. The net turnover during the day was Rs. 1375879544.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

BHEL wins Rs.800 crore EPC orders for 200 MW Solar Power Plants

Pricol Ltd announces changes in board

The South Indian Bank Ltd board approves debt issue of up to Rs. 500 crores

Sandhar Technologies Ltd signs JV agreement with Winnercom Co. Ltd.

Tenure of 6 independent directors of NBCC India Ltd ends

Super Spinning Mills Ltd announces resignation of directors

Pricol Limited announces financial results for Q4 FY 2018-19

Elecon Engineering Company Ltd bags Rs. 79.12 crores order from BHEL

Fire accident at PG Electroplast Ltd's washing machine division

FDC Limited receives ANDA approval for Dorzolamide and Timolol Ophthalmic Solution USP 22.3Mg/6.83Mg Per Ml

USFDA completes inspection at Unit 2 of Divi's Laboratories Ltd at Chippada

Apcotex Industries Ltd fixes July 5, 2019 as record date for stock split

ICRA updates on credit ratings of Aster DM Healthcare Ltd

GPCB revokes closure notice issued to Coromandel International Ltd's Sarigam unit

Relaxo Footwears Ltd fixes June 27, 2019 as record date for bonus issue

Shriram EPC Ltd approves resignation of nominee director

Bilcare Limited appoints Ms. Madhuri Vidya as women independent director

PSP Projects Ltd's MD & CEO bags CXO of the Year award

Zydus' Nesher Pharmaceuticals receives final approval from the USFDA for Omega-3-Acid Ethyl Esters Capsules

Alidac Pharmaceuticals Ltd receives EIR from USFDA

Reliance Infrastructure Ltd announces FY19 results

Smt. Supriya Prakash Sen co-opted as additional director of Lakshmi Vilas Bank Ltd

Mahindra enters into Strategic Alliance with Switzerland-based Gamaya

CreditAccess Grameen Ltd appoints B R Diwakar as additional director

Voltas launches new Brand Shop at Chackai, Thiruvananthapuram

Ind-Ra revises rating outlook of CCL Products India Ltd

Aplab Ltd appoints independent director

Infosys Ltd board to announce Q1 results on July 12, 2019

USFDA completes inspection at Laurus Labs Ltd's Vizag units

Asian Hotels North Ltd updates on rating downgrade by CRISIL

Siti Networks Ltd appoints Mr. Suresh Kumar Arora as whole time director

M&M updates on investment in Gamaya SA, Switzerland

Maruti Suzuki sets up Water ATM in Naviyani village, Gujarat

G M Breweries Ltd board to consider Q1 results on July 4, 2019

McDonald's comes up with McSaver Snacks Mix n' Match combo offers starting at just Rs 49!

3i Infotech Ltd appoints Mr. Rajeev Kumar Sinha as nominee director of IDBI Bank

Tata Communications divests remaining 26% stake in The Singapore Data Centre Business

Biocon Biologics Facilities In Bengaluru Receive EU GMP Certification

Shri Lakshmi Cotsyn Ltd appoints CFO

Smartlink Holdings Ltd board approves buy back at Rs. 130

Steelco Gujarat Ltd calls for board meeting on July 16, 2019

IDBI Bank initiates Forensic Audit of Sankhya Infotech Ltd

The Indian Wood Product Co. Ltd launches Pan Sugandh - packet of Katha in the state of Bihar

Kapil Uniyal of Birlasoft bags award

Sun Pharma announces Late-Breaking Phase 2 Data Showing Potential of ILUMYA™

Sunteck Realty Ltd appoints CFO

Melstar Information Technologies Ltd announces resignation of CEO

The Indian Wood Product Co. Ltd launches retail packets of Spices in New Delhi and Uttarakhand

Dr. Reddy's Laboratories inks agreement to sell its neurology branded products to Upsher-Smith Laboratories, LLC

RITES Ltd board to consider bonus issue on June 24, 2019







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019