News
GIC Affiliates invests Rs 119 cr in IRB Infrastructure Trust, by way of Rights Issue


New Delhi, April 22, 2022: IRB Infrastructure Developers Ltd., has completed a total fund raise of Rs 243 crores in the IRB Infrastructure Trust. Post fund raise, IRB and GIC Affiliates will continue to hold 51% and 49% in the IRB Infrastructure Trust respectively.


Commenting on the development, Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infra said, “We deeply appreciate this partnership with GIC Affiliates and thank them for their continued support in growing this portfolio meaningfully. The present fund raise will be utilized for the equity contribution in the 10th project that will form part of the Pvt InvIT.”
The company being the Sponsor of the Trust, has executed necessary Agreement/ documents for implementation of Palsit Dankuni Tollway Private Limited (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.
-
News3 weeks ago
Brigade Group’s Real Estate Sales Grows 25% QoQ to ₹ 1,249 Crores
-
News4 weeks ago
Diwali: Perfect Occasion for RE Investment
-
News4 weeks ago
Larsen & Toubro Announces Divestment of L&T Infrastructure Engineering Limited
-
News3 weeks ago
CapitaLand India Trust Diversifies Funding Sources With Rs 13 Bn Onshore Loan To Develop Its Navi Mumbai Data Centre
-
Interviews4 weeks ago
Reinventing RE Sales & Marketing
-
News4 weeks ago
‘Square Yards’ Arm, PropsAMC, Assists Over 300 Homebuyers In Recovering Rs 100 Cr From Legal Disputes With Developers
-
News4 weeks ago
Provident Housing Announces 12th Edition of Bengaluru Home Habba
-
News3 weeks ago
Bharat Housing Network raises Rs 125 cr in its Series A led by NABVENTURES Fund