IRB Infrastructure and GIC Affiliates invest Rs 242.50 cr in IRB Infrastructure Trust

IRB Infrastructure Developers announced that its associate company - IRB Infrastructure Trust has successfully completed fund raising by way of Rights Issue of Units amounting to Rs. 242.50 crore from existing unitholders. The Company being the Sponsor and 51% unitholder of the Private InvIT, invested Rs. 123.68 crore and GIC Affiliates holding 49% units have invested Rs. 118.82 crore. Post the rights issue, the Company will continue to hold 51% units and GIC affiliates will continue to hold 49% units in the Trust.

The Company being the Sponsor of the Trust, has executed necessary Agreement/ documents for implementation of Palsit Dankuni Tollway (PDTPL) by the Trust. Accordingly, the Project will be executed by the Company and its Associate - IRB Infrastructure Trust. The project has already received appointed date and is under tolling, and upgradation work to six laning has also commenced.

 

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