Country’s first infrastructure investment trust, IRB Infra InvIT on Wednesday announced that it has successfully completed the second instalment of its fundraising programme by way of Rights Issue of Units amounting to Rs 510 crore.
“Infrastructure Trust – Private InvlT, has successfully closed 2nd tranche of fundraising by way of Rights Issue of Units amounting to Rs 510 crore,” the company said in an official statement.
The company being the sponsor as well as a 51 percent stakeholder, contributed around Rs 260crore and the GIC Affiliates being a 49 percent stakeholders have contributed the remaining Rs 250crore.
This is just a part of the total commitment of Rs 4,400 crores by GIC affiliates towards 49 percent stake in Private InvIT housing 9 BOT (build-operate-transfer) assets, out of which IRB Infrastructure Trust had already received a payment Rs 3,753 crore from GIC affiliates in the month of February 2020.
IRB will continue to hold on to its 51 percent stakes and GIC affiliates will continue to hold a 49 percent stake in the IRB Infrastructure Trust. IRB infrastructure investment trust had announced in October that its revenue for the September quarter had declined to Rs 296 crore but IRB InvIT did not provide profit figures for the September quarter.
