In a bid to pare debt, Reliance Infrastructure is planning to raise Rs 5,000 crore through Infrastructure Investment Trust (InvITs) in the fourth quarter of 2016-17. The company has already registered the trust with capital market regulator Securities and Exchange Board of India (SEBI) and will soon file a prospectus for approval.
Reliance Infrastructure’s trust will own 10 road projects, and the company is keen to add another road project if SEBI allows.
Reliance Infrastructure is the largest power distribution licensee in Mumbai, with 25 years license to distribute electricity in its licensed distribution areas spread over 400 Sq. Kms. in the suburbs and surrounding areas of Mumbai, and supplying power to around 29 lakh consumers.
