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RInfra Fund Files Draft Red Herring Prospectus To Raise Rs. 3,000 Crore

srijita
Last updated: 2016/12/19 at 5:15 AM
By srijita 2 Min Read
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RInfra InvIT will own 10 toll road assets of the company connecting major urban centres.
Mumbai: Reliance Infrastructure (RInfra) said on Friday that it has filed initial papers with the Securities and Exchange Board of India (Sebi) to raise Rs. 3,000 crore through a draft red herring prospectus (DRHP).

“The Reliance Infrastructure InvIT Fund (RInfra InvIT), has filed the DRHP with the Securities and Exchange Board of India and the issue size is Rs. 3,000 crore with an option to retain over-subscription up to 25 per cent,” the company said in a statement here.

“The InvIT offers investment opportunity in a portfolio of income-generating assets in key growth markets,” it said

“Backed by an experienced sponsor and a project manager with consistent track record in operating and maintaining projects in the roads and highways sector in India, the InvIT fund is poised to harness the upcoming opportunities in the sector,” the company added.

RInfra InvIT will own 10 toll road assets of the company connecting major urban centres, with an option to acquire further assets in future. The road assets extend up to 770 km across five states with long concession periods, it said.

The InvIT Fund will have low leverage upon listing, providing debt capacity to finance future growth, the statement added.

[“source-ndtv”]

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TAGGED: Draft, files, Fund?, Herring, Prospectus, Raise, Red, RInfra, Rs.3000 Crore, to
srijita December 19, 2016
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