IRB Infrastructure and GIC Affiliates invest Rs 24250 cr in IRB Infrastructure Trust

27 Apr 2022 , 01:33 AM

IRB Infrastructure Developers announced that its associate company – IRB Infrastructure Trust has successfully completed fund raising by way of Rights Issue of Units amounting to Rs 24250 crore from existing unitholders The Company being the Sponsor and 51Percentage unitholder of the Private InvIT invested Rs 12368 crore and GIC Affiliates holding 49Percentage units have invested Rs 11882 crore Post the rights issue the Company will continue to hold 51Percentage units and GIC affiliates will continue to hold 49Percentage units in the Trust The Company being the Sponsor of the Trust has executed necessary Agreement documents for implementation of Palsit Dankuni Tollway PDTPL by the Trust Accordingly the Project will be executed by the Company and its Associate – IRB Infrastructure Trust The project has already received appointed date and is under tolling and upgradation work to six laning has also commenced