ICICI Securities acts as the Sole Advisor to the Tower Infrastructure Trust - One of the Largest Private Equity Investment in India aggregating to INR 25,215 Cr

ICICI Securities Limited ("I-Sec") is pleased to announce the successful closure of INR 25,215 Cr fund raise through an InvIT of Tower Infrastructure Trust ('Tower InvIT'). The Tower InvIT deal saw the Canadian Asset Management Company, Brookfield as the lead investor and witnessed strong participation from global Blue Chip investor Government of Singapore Investment Corporation (GIC) and British Columbia Investment Management Corporation (BCI). The Tower InvIT through Reliance Jio Infratel Private Limited ('RJIPL') has a pan-India portfolio of 174,451 telecommunication towers as of Sept 2019 and is one of the largest independent tower company in India.

Highlights of the Transaction :

- I-Sec played a key role in successful closure of the Tower InvIT and led discussions with all stakeholders.

- I-Sec was instrumental in obtaining approvals from regulators such as SEBI and actively supported client in obtaining all approvals and completing the process in a crunched timeline.

- I-Sec demonstrated its experience and understanding of the product by advising on various critical and complex deal related aspects.

- I-Sec continues to demonstrate its dominance as a preferred banker for InvIT issuances by playing the role of Left Lead Bank in 4 out of the 6 InvIT issuances till date in India.

Shares of ICICI Securities Ltd was last trading in BSE at Rs.479.35 as compared to the previous close of Rs. 483.95. The total number of shares traded during the day was 356928 in over 410 trades.

The stock hit an intraday high of Rs. 486 and intraday low of 475.85. The net turnover during the day was Rs. 171324400.

Source : Equity Bulls

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