Country's first infrastructure investment trust IRB Infra INVIT on Wednesday said it has completed the second installment of its fund raising programme by securing Rs 510 crore.
Infrastructure Trust - Private InvlT, has successfully closed 2nd tranche of fund raising by way of Rights Issue of Units amounting to Rs 510 crore, the company said in an official statement.
The company being the sponsor and 51% stakeholder, contributed Rs 260crore and the GIC Affiliates holding 49% have contributed balance Rs 250crore.
This is part of the total commitment of Rs 4,400 cr by GIC affiliates towards 49% stake in Pvt lnvlT housing 9 BOT (build-operate-transfer) assets, out of which IRB Infrastructure Trust has already received 3,753 cr from GIC affiliates in February, 2020.
IRB will continue to hold 51% and GIC affiliates will continue to hold a 49% stake in the IRB Infrastructure Trust.
Last month, IRB infrastructure investment trust said its revenue for the September quarter declined to Rs 296 crore.
IRB InvIT did not provide profit figures for the quarter.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.