In a bid to pare its debt of around Rs 2,800 crore, MEP Infrastructure Developers is planning to raise Rs 2,500 crore through Infrastructure Investment Trusts (InvITs) and is expected to file the draft red herring prospectus (DRHP) within a month.
This will make it the second firm to launch InvITs, following close on the heels of IRB Infrastructure Developers filing to raise at least Rs 4,300 crore. Incidentally, MEP Infrastructure Developers is a company spun off from IRB Infrastructure Developers.
The process of filing the DRHP with market regulator Securities and Exchange Board of India (SEBI) is in the final stages and it would be done in the next 30 days.
MEP Infrastructure Developers is engaged in tolling operations of the road infrastructure sector, with a pan-India presence. MEP Infra is in the business of pure toll collection projects as well as OMT projects, which involve maintenance obligations in addition to toll collection on operational roads (including highways) constructed by third parties.
