IRB InvIT fund to raise up to Rs 4300 cr, files DRHP for IPO
DSIJ Intelligence / 08 Sep 2016
IRB infra has filed draft red herring prospectus (DRHP) with SEBI for Rs 4,300 crore IPO.
Infrastructure space is buzzing on bourses with stocks in the sector gaining grounds on Thursday, September 8.
SEBI on Thursday announced easing rules for the REITs and InvIT. Several stocks in the infra space and realty sector rallied on the comments made by SEBI. DLF at Rs 156.50 closed up by almost 3 per cent and MEP Infrastructure Development limited closed at Rs 43.60 per share or 1.28 per cent higher.
IRB Infrastructure Developers owns IRB InvIT funds in the form of a wholly owned subsidiary. IRB InvIT is an infrastructure investment trust. The said infra company has filed draft red herring prospectus (DRHP) with SEBI for Rs 4,300 crore IPO.
IRB Infrastructure Private Limited, a wholly owned subsidiary of IRB Infrastructure limited will be the investment manager to the trust. It will be one of the firsts in the country as no other Infrastructure Investment Trust (InvIT) has ever filed for an IPO.
The InvIT regulations allows the issuer to reserve an option to retain over subscription of up to 25 per cent of the issue.
The stocks shut shop at Rs 251.15 per share on Thursday up by Rs 20 or 8.91 per cent. The markets shut shop at 29045 closing above 29000 after 17 months.
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