IRB Infrastructure Developers on Thursday said IRB InvIT Fund, an infrastructure investment trust, has filed draft red herring prospectus with SEBI for Rs 4,300 crore initial public offering.
IRB Infrastructure Developers on Thursday said IRB InvIT Fund, an
infrastructure investment trust, has filed draft red herring prospectus with
SEBI for Rs 4,300 crore initial public offering. "Investment manager IRB
Infrastructure Private Limited has filed a draft offer document dated September
7, in relation to an initial public offer of units representing an undivided
beneficial interest in the Trust, with the SEBI, the BSE and the NSE, in
accordance with the InvIT Regulations," the Mumbai-based road developer
said in its filing. IRB Infrastructure Private Limited is a wholly-owned
subsidiary of the company and investment manager to the Trust.
The initial
public offer consists of a fresh issue by the Trust, and an offer for sale by
the company & its subsidiaries - Modern Road Makers, Aryan Toll Road, ATR
Infrastructure and Ideal Road Builders. IRB InvIT Fund, which is registered
with the Securities and Exchange Board of India under Infrastructure Investment
Trusts (InvIT) Regulations, 2014, is the first infrastructure investment trust
to file for IPO.
IRB said the investment manager, in consultation with the
global co-ordinators and book running lead managers to the issue, reserves the
option to retain oversubscription of up to 25 percent of the issue size in
accordance with the InvIT Regulations. At 12:05 hours IST, the scrip of IRB
Infrastructure Developers was quoting at Rs 244.45, up Rs 13.45, or 5.82
percent on the BSE.
