IRB Infra to raise over Rs4,300 crore via InvIT
- BigBasket to invest Rs500 crore to ramp up farmer sourcing, technology
- Building a case for equal pay
- President Kovind approves EC’s recommendation to disqualify 20 AAP MLAs
- Gujarat verdict big boost for Congress, Rahul Gandhi will lead party to victory in 2019: Ahmed Patel
- Europe readies riposte to Trump’s ‘America First’ push in Davos
New Delhi: IRB Infrastructure Developers Ltd said on Friday it has filed an offer document with regulator Sebi to raise more than Rs4,300 crore through an infrastructure investment trust (InvIT ).
Besides fresh issue of units of InvIT, IRB Infrastructure Developers and its subsidiaries will also launch an offer for sale of units.
InvIT, a new class of investment vehicle under Sebi regulations, is aimed at raising funds in the infrastructure space. IRB Infrastructure Developers sponsors the IRB InvIT fund.
The initial public offer of the units was filed on Thursday with Sebi.
“The initial public offer consists of fresh units, aggregating to Rs43,000 million, by the trust (the fresh issue) and an offer for sale of units by the company (IRB Infrastructure Developers) and certain subsidiaries,” IRB Infrastructure Developers said in a regulatory filing.
Stock of IRB Infrastructure Developers closed 2.31% higher at Rs246 on BSE on Friday.