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IRB Infra InvIT completes second fund raising round by securing Rs 510 cr

IRB will continue to hold 51% and GIC affiliates will continue to hold a 49% stake in the IRB Infrastructure Trust

IRB Infra | InvIT | IRB InvIT

Megha Manchanda  |  New Delhi 

An infrastructure project

Country's first infrastructure investment trust 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 did not provide profit figures for the quarter.

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First Published: Wed, November 18 2020. 11:31 IST