IRB Infrastructure Developers receives 1st tranche of investment of Rs 3753 cr from GIC affiliates
Capital Market IRB Infrastructure Developers announced the receipt of the first tranche of the investment of Rs 3753 crore from GIC affiliates out of its commitment of Rs 4,400 crore by IRB Infrastructure Trust. The
balance commitment will be invested on the progress of construction of the under-construction projects. The allotment of units to the Investors will happen by 27 February 2020. Post the allotment of units, IRB
will hold 51% and GIC affiliates will hold 49% stake in the Private InvIT.
This is the largest transaction in the roads and highways sector in India. The net revenue of the Portfolio in FY 2019 was Rs 630 crore. Upon completion of construction of the 9 BOT assets, the Enterprise Value of the Private InvIT will be Rs 22,500 crore.
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