Reliance Infrastructure’s Reliance Infrastructure InvIT Fund (RInfra InvIT), has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The filing is in line with the Government of India’s initiative to promote alternative means for long-term infrastructure financing. The proposed issue size is Rs 3,000 crore with an option to retain over-subscription upto 25%.
The InvIT will own 10 Toll Road Assets of RInfra connecting major urban centres, with an option to acquire further assets in future. The road assets extend approximately 770 kms across 5 states with long concession periods. The company offers investment opportunity in a portfolio of income-generating assets in key growth markets.
Reliance Infrastructure is the sponsor of RInfra InvIT which will carry out the activities as an InvIT, subject to the conditions and regulations specified under the SEBI (Infrastructure Investment Trusts) Regulations, 2014.
