Ensuring smooth flow of fund for their on-going infrastructure projects, IL&FS and Sterlite Power Transmission Trust in a first of its kind initiative have recently filed an application with market regulator Securities and Exchange Board of India (SEBI) to generate funds through an Infrastructure Investment Trusts (InvITs). Like Real estate investment trusts (Reits), InvITs are instrument through which investors can take exposure to income-generating infrastructure assets. Though, the framework for both Reits and InvITs has been in place for more than a year, however no issuer has so far raised money through these instruments. IL&FS Transportation and Sterlite Power Transmission Trust are likely to be the first companies to raise capital through InvITs. According to sources, Sterlite Power Grid Ventures Ltd. is planning to raise around Rs.2,500-3,000-cr and would use the fund partly to reinvest in existing projects.
📅Published on:
25 July 2016
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