Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

IRB Infra completes INR 381.63 Crores Fund Raise in IRB Infrastructure Trust, the Private InvIT, by way of Rights Issue

Posted On: 2021-07-27 11:13:39 (Time Zone: UTC)


IRB Infrastructure Developers Ltd., one of the leading highways infrastructure developers in India, has completed total fund raise of INR 381.63 Crores with an investment of INR 194.63 Crores in its sponsored IRB Infrastructure Trust, the Private InvIT jointly launched by the Company and Singapore based GIC Affiliates with 51% and 49% holding in it respectively.

Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infra said, "We are very happy to announce our investment in the Trust on the 23rd Foundation Day of IRB Infra, which has relentlessly worked for India's highways infrastructure development sector over all these years and delivered world class highways infrastructure across all geographical terrains of the Nation. We express our continued commitment towards the same in years to come." He further added, "With this investment of INR 194.63 Crores in the IRB Infrastructure Trust, Company's aggregate equity investments across its Road Portfolio, comprising wholly owned concessions, 51% ownership in the Private InvIT and 16% ownership in Public InvIT have crossed INR 9,000 Crores mark."

IRB Infrastructure Trust, the Private InvIT, sponsored by IRB Infrastructure Developers Ltd. and the GIC Affiliates, Singapore based Sovereign Fund, completed the fund raising of INR 381.63 Crores by way of Rights Issue. While, the Sponsors IRB Infra invested INR 194.63 Crores; the GIC Affiliates invested INR 187 Crores.

To re-iterate, the GIC Affiliates had invested approx. INR 3,750 Crores in February 2020, as the first tranche towards its investment in the IRB Infrastructure Trust; which was subsequently followed by the second tranche of INR 510 Crores raised in November 2020 by way of Rights Issues with the respective holding of 51:49 for Sponsor IRB Infrastructure Developers Ltd. and GIC Affiliates.

All projects under the Private InvIT are revenue generating, including three projects, which are under Tolling and Construction. The funds raised will be utilized towards equity requirement for under construction projects.

Shares of IRB INFRASTRUCTURE DEVELOPERS LTD. was last trading in BSE at Rs. 165.7 as compared to the previous close of Rs. 163.05. The total number of shares traded during the day was 137879 in over 1570 trades.

The stock hit an intraday high of Rs. 170.1 and intraday low of 161.35. The net turnover during the day was Rs. 22914495.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Astrazeneca Pharma India Ltd receives import and market permission for Selumetinib 10 Mg & 25 Mg Capsule

Spirit of Wipro Run brings together participants from 35 countries

Federal Bank partners with Ashok Leyland

Kotak Mahindra Bank forays into Healthcare Financing

Puravankara announces Credit Rating Upgrade by India Ratings and Research

Pay your Tata Power-DDL Bill before September 30 and stand a chance to Win Exciting Prizes

Kotak Launches Kotak Shiksha Nidhi - Financial Assistance to Students, who have lost a Primary Earning Member to COVID-19, for the Continuation of Education

Mr. Sankarshan Basu and Mr. Ramanand Mundkur Join Federal Bank's Director Board

Vedanta Jharsuguda's Power Plants awarded as 'Best Water-Efficient Plants'

PG Electroplast applies for the PLI scheme, commits Rs 300 crore Capex

Radico Khaitan signs Nidhi Agerwal as their brand influencer for Morpheus Brandy

IndianOil Corporation Collaborates with Automation Anywhere to Accelerate Automation

Federal Bank partners with OneCard to offer mobile-first Credit Card

Newgen Recognized in 2021 Gartner Magic Quadrant for Enterprise Low-Code Application Platforms for Second Year in a Row

Reliance Infrastructure Limited board approves FCCB issue, to convert into shares at Rs. 111

Reliance Power Limited appoints Shri Subrajit Bhowmick as CFO

HDFC has sold 2.13% stake in Ansal Housing Ltd

Aditya Birla Sun Life AMC reserves 1,944,000 shares to shareholders of Aditya Birla Capital Ltd

IndusInd Bank Ltd has sold 6,30,733 Equity shares of McLeod Russel India Ltd

Zeal Aqua Ltd fixes Oct 19, 2021 as record date for stock split

Mangal Credit & Fincorp Limited launches channel partners for gold loan

IRB Infrastructure Developers Ltd receives LoA from NHAI for road project in Tamil Nadu

Reliance Infrastructure Ltd appoints Shri Sandeep Khosla as CFO

PB Fintech Ltd withdraws from merger with Makesense Technologies Ltd

Avi Products India Ltd receives approval from BSE for preferential issue

TVS Srichakra Limited to participate in rights issue of TVS Srichakra Investments Ltd

Biocon Biologics Insulin Manufacturing Facility in Malaysia Completes U.S. FDA (PAI) Inspection

PNB shortlists Alankit Ltd as National Business Correspondent

Balkrishna Industries Limited to raise Rs. 1000 crores

CRISIL upgrades long term rating of Nahar Spinning Mills Ltd

Mr. Sujay Wasan resigns as Director of Procter & Gamble Health Limited

InterGlobe Aviation Ltd updates on arbitral award

B N Rathi Securities Limited board approves rights issue

Orient Cement Ltd to explore setting up of Cement Grinding Unit at Tiroda, Maharashtra

NBCC India Ltd secures work order at Hulhumale, Maldives

Dalmia Cement Bharat Ltd commences commercial production of Line 2 at its Kapilas Cement Manufacturing Works, Cuttack

Century Plyboards India Ltd increases stake in Century Infotech Ltd to 99.99%

Nucleus Software Exports Limited board approves buy back at Rs. 700 per share

NHPC Ltd to form subsidiary

EKI Energy Services Ltd opens 3 new International Business Points

SJVN bags 1000 MW Solar PV Power Project

Sun TV Network Ltd announces resignation of Mr. J Ravindran

Modern Steels Ltd announces disruption at its plant

Trimurthi Ltd gets Rs. 25 lakhs claim from defaulted broker

Sanrhea Technical Textiles Ltd board to consider preferential issue on Sep 30, 2021

Indiabulls Housing Finance Ltd raises ₹ 251 crores by selling part of its stake in OakNorth Holdings Ltd

Xelpmoc Design and Tech Ltd has sold its stake in Madworks Ventures Pvt Ltd

TPL Plastech Ltd allots 78,00,300 Equity Shares

Unison Metals Ltd to invest in Chandanpani Pvt Ltd

JSW Energy Limited's JV updates on rating


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020