IRB Infrastructure Trust, sponsored by IRB Infrastructure Developers Ltd was listed on the National Stock Exchange on Monday, becoming the first private InvIT to be listed. The move comes after the regulator Securities and Exchange Board of India (SEBI) listed guidelines on listing framework for the non-listed InvITs.
The chairman of the IRB Infrastructure Trust and chairman and managing director of IRB Infrastructure Developers Ltd, Virendra D. Mhaiskar, said in the last four years the project portfolio of the Trust has made stupendous progress and has achieved a size of almost Rs 27,000 crore Enterprise Value with balance concession life of 18 plus years.
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"This development platform of IRB with marque investor like GIC – sovereign wealth fund of Singapore will create immense value for the whole IRB group and provide strong growth potential going forward," he added.
The IRB Infrastructure Trust has acquired 10 BOT road assets with 6,275 lane Kms, in the States of Maharashtra, Gujarat, Rajasthan, Goa, Karnataka, Haryana, Uttar Pradesh and West Bengal, which are being managed in pursuant to concessions granted by the National Highways Authority of India.
The projects under the Trust have concessions varying between 17 to 29 years.
The sponsor company, IRB Infrastructure Developers Ltd., is an integrated roads and highways infrastructure developer with major presence in the Build-Operate-Transfer (BOT) space. It has a portfolio of 23 projects, including 22 highway projects and 1 airport project, collectively spanning approximately 16,000 lane kilometers and having an enterprise value of Rs 62,000 crore.
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