NHAI approves InvIT Fund of Reliance Infrastructure
Sanket Dewarkar / 30 Mar 2017
Reliance Infrastructure is currently having a portfolio of 11 road projects with total length of 1000 km, on a build operate and transfer basis (BOT).
Reliance Infrastructure InvIT(Infrastructure Investment Trusts) Fund for the very first time got a critical approval from National Highway Authority of India (NHAI), as this is the only approval granted by NHAI for any InvIT fund.
The proposed issue size is of Rs 3000 crore with an option to retain oversubscription of upto 25 per cent , will own 10 toll road assets with an option to acquire further assets in future. The road assets extend 770 km across five states with long concession periods.
The InvIT which is like a mutual fund, will enable direct investment of money from the investors in infrastructure to earn small portion of income as return.
Reliance Infrastructure is currently having a portfolio of 11 road projects with total length of 1000 km, on a build operate and transfer basis (BOT).
The stock of Reliance Infrastructure today opened at Rs 570 compared to previous close of Rs 566.5, and currently it is trading at Rs 565.45 near to its day's low of Rs 563.
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