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SBI Capital Markets and Piramal Enterprises have agreed to cooperate on business-related opportunities in acquiring controlling stakes in Road PPP Assets, where many developers are looking at hiving off their completed/ near completion assets to repair their balance sheets.
SBI Caps and Piramal Enterprises have mutually agreed to engage on a preferred relationship basis for advisory services for such identified road assets. SBI Caps would also assist Piramal Enterprises in obtaining necessary approvals for closing such transactions, Piramal Enterprises said in a statement.
Parvez Umrigar, Co-Head – Structured Investment Group, Piramal Enterprises said, “SBI Caps is the largest investment banker having strong relationships with infrastructure developers and enjoying the highest level of confidence within the banking industry. Piramal considers the road sector as an important area of investment and we believe that our partnership with SBI Caps is a step towards achieving this objective.”
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