Latest News

IRB Infrastructure Gets Investment from GIC Affiliates

IRB Infrastructure Developers has received the first tranche of the investment of Rs 3,753 crore from GIC affiliates. In other words, IRB Infrastructure Developers said Rs 3,753 crore from GIC affiliates has been received out of its commitment of Rs 4,400 crores by IRB Infrastructure Trust. ‘The balance commitment will be invested on the progress of construction of the under-construction projects,’ the filing added.
In August 2019, the company had announced signing of definitive agreements with GIC affiliates, for an investment up to Rs 4,400 crore amounting to 49 per cent stake in a portfolio of nine of its assets through Private InvIT structure (IRB Infrastructure Trust), while IRB was to retain controlling stake of 51 per cent in the Trust. The portfolio spans across 5,900 lane kms in Haryana, Uttar Pradesh, Rajasthan and Gujarat, Maharashtra and Karnataka. The net revenue of the portfolio in FY2019 was around Rs 630 crore. Upon completion of construction of the nine BOT (build-operate-transfer) assets, the enterprise value of the private InvIT will be about Rs 22,500 crore. The allotment of units to the investors will happen by February 27, 2020. IRB will hold 51 per cent and GIC affiliates will hold 49 per cent stake in the Private InvIT, after the allotment of IRB.
Read EquityPandit’s Nifty Outlook for the Week 

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More