Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Reliance Infra likely to file InvIT papers with SEBI soon, gains 3.5% in trade

28 April, 2017 7:11 AM
52 0
Reliance Infra likely to file InvIT papers with SEBI soon, gains 3.5% in trade

Reliance Infrastructure share price gained 3.5 percent intraday Friday as sources told CNBC-TV18 that the Anil Dhirubhai Ambani Group company is likely to file InvIT IPO papers with SEBI shortly.

The company is looking to raise around Rs 2,500 crore through Infrastructure Investment Trust listing.

Sources said Reliance Infrastructure has revised the proposal from 10 assets to 7 assets and that revision in proposal is as per NHAI norms.

Reliance Infrastructure Investment fund became the first fund to receive approval for an InvIT from the National Highway Authority (NHAI) in March 2017.

InvIT is a novel product for the Indian equity investors – a hybrid instrument which is neither pure equity nor pure debt.

IRB InvIT Fund, sponsored by IRB Infrastructure Developers, is the first one to launch initial public offering. The Rs 4,654.6-crore issue will open for subscription on May 3 and close on May 5.

Source: moneycontrol.com

Share in social networks:

Comments - 0