S&R Associates represent IRB Infrastructure Trust in their Rs. 5.10 billion rights issue
S&R Associates represent IRB Infrastructure Trust in their Rs. 5.10 billion rights issue S&R Associates represented IRB Infrastructure Trust, India's first unlisted infrastructure investment trust (InvIT), in its Rs. 5.10 billion rights issue to eligible InvIT unitholders, which included IRB Infrastructure Developers Limited (InvIT sponsor) and affiliates of GIC. This is the...
ToRead the Full Story, Subscribe to
Access the exclusive LEGAL ERAStories,Editorial and Expert Opinion
S&R Associates represent IRB Infrastructure Trust in their Rs. 5.10 billion rights issue
S&R Associates represented IRB Infrastructure Trust, India's first unlisted infrastructure investment trust (InvIT), in its Rs. 5.10 billion rights issue to eligible InvIT unitholders, which included IRB Infrastructure Developers Limited (InvIT sponsor) and affiliates of GIC. This is the first rights issue by an unlisted InvIT in India.
According to a stock exchange announcement, "IRB Infrastructure Trust - Private InvIT has successfully closed 2nd Tranche of fund raising by way of Rights Issue of Units amounting to Rs. 510 Crore. The Company being the Sponsor and 51% stakeholder, contributed Rs. 260 Crore and the GIC Affiliates holding 49% have contributed balance Rs. 250 Crore. This is part of the total commitment of Rs. 4,400 Crore by GIC affiliates towards 49% stake in Pvt InvIT housing 9 BOT assets, out of which IRB Infrastructure Trust has already received 3,753 Crores from GIC affiliates in February, 2020."
The S&R team was led by partners Sandip Bhagat and Sudip Mahapatra, and included associates Pratichi Mishra and Utkarsh Mishra.
