IRB Infra completes total fund raise of Rs 381.63 Crores
ROADS & HIGHWAYS

IRB Infra completes total fund raise of Rs 381.63 Crores

IRB Infrastructure Developers Limited, one of the leading highways infrastructure developers in India, has completed total fund raise of Rs 381.63 Crores with an investment of Rs 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 Rs 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 Rs 9,000 Crores mark.”

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

To reiterate, the GIC Affiliates had invested approx. Rs 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 Rs 510 Crores raised in November 2020 by way of Rights Issues with the respective holding of 51:49 for Sponsor IRB Infrastructure Developers Limited 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 utilised towards equity requirements for under construction projects.

IRB Infrastructure Developers Limited, one of the leading highways infrastructure developers in India, has completed total fund raise of Rs 381.63 Crores with an investment of Rs 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 Rs 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 Rs 9,000 Crores mark.” IRB Infrastructure Trust, the Private InvIT, sponsored by IRB Infrastructure Developers Limited and the GIC Affiliates, Singapore based Sovereign Fund, completed the fund raising of Rs 381.63 Crores by way of Rights Issue. While, the Sponsors IRB Infra invested Rs 194.63 Crores; the GIC Affiliates invested Rs 187 Crores. To reiterate, the GIC Affiliates had invested approx. Rs 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 Rs 510 Crores raised in November 2020 by way of Rights Issues with the respective holding of 51:49 for Sponsor IRB Infrastructure Developers Limited 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 utilised towards equity requirements for under construction projects.

Next Story
Infrastructure Urban

Paras Defence Subsidiary Wins Rs 460 Mn Anti-Drone Order

Paras Defence and Space Technologies (PDST) saw its shares rise 1.5 per cent to Rs 701 after its subsidiary, Paras Anti-Drone Technologies, secured a defence contract from the Ministry of Defence, Government of India, valued at approximately Rs 460.19 million.The order covers the supply of Anti-Drone Systems, including Drone Jammers, marking a significant milestone for Paras Anti-Drone in India’s growing counter-UAV segment. The contract is scheduled for execution by March 2026. According to official filings, the award is from a domestic entity, not a related party transaction, and no promot..

Next Story
Building Material

Jindal Stainless Launches First Stainless Steel Fabrication Unit in Mumbai

Jindal Stainless, India’s largest stainless steel manufacturer, through its subsidiary Jindal Stainless Steelway (JSSL), has inaugurated its first stainless steel fabrication unit at Washivali, Patalganga, Mumbai. The 4 lakh sq ft facility is designed to serve the bridge sector, fabricating critical components such as girders, arches, nuts, bolts, and handles. The unit was inaugurated by CEO & CFO Tarun Khulbe in the presence of senior leadership.Developed with an initial investment of Rs 1.25 billion, the facility strengthens Jindal Stainless’ position as a provider of end-to-end fabr..

Next Story
Infrastructure Energy

Hero Future Energies Secures Rs 19.08 Bn for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19,080 million in funding from State Bank of India (lead) and Canara Bank for the development of its 120 MW renewable energy (RE) hybrid project in Kurnool, Andhra Pradesh.The project, contracted with SJVN, integrates wind, solar, and storage technologies to provide reliable peak power. The funding, structured with a 21-year repayment tenure, will support timely project execution and the commencement of commercial operations.This financial closure underscores the banking community’s confidence in ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?