S&R Associates advised IRB Infrastructure Trust
S&R Associates advised IRB Infrastructure Trust
S&R Associates advised & represented IRB Infrastructure Trust, India's first unlisted infrastructure investment trust, in a INR 2,425 million rights issue to eligible unit holders of the unlisted InvIT, which included IRB Infrastructure Developers Limited (the sponsor) and affiliates of GIC. The proceeds of the rights issue were used by the InvIT for investment in Palsit Dankuni Tollway Private Limited, which operates and maintains a toll road project in the Indian state of West Bengal. This is the first such transaction after the completion of the initial offering by an unlisted InvIT in India.
The S&R team was led by partners Sandip Bhagat and Sudip Mahapatra, and associate Pratichi Mishra.
