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Reliance Infra InvIT Fund files DRHP with Sebi for Rs 3,000 cr IPO
[Image: Reliance-Infrastructure_4.jpg]

NEW DELHI: Reliance Infra InvIT Fund, a trust sponsored by Reliance Infrastructure has filed draft offer document with Sebi for Rs 3,000-crore initial public offering (IPO).
In a filing to BSE, Reliance Infrastructure said that Reliance Nippon Life Asset Management, which is the investment manager to the trust, has filed for the IPO of units representing an undivided beneficial interest in the Trust in accordance with the InvIT regulations.
The company said that the IPO will consist of fresh issue of units, aggregating up to Rs 3,000 crore by the trust.
“The filing is in line with the government of India’s initiative to promote alternative means for long-term infrastructure financing,” the company said.
Reliance Nippon Life Asset Management, in consultation with the global co-ordinators and the book running lead managers reserve the option to retain oversubscription of up to 25 per cent of the issue size in accordance with the InvIT Regulations, Reliance Infrastructure said.
RInfra InvIT will own 10 toll road assets of Reliance Infrastructure connecting major urban centre, with an option to acquire further assets in future.
The road assets extend nearly 770 km across 5 states with long concession periods, Reliance Infra said.
“Backed by an experienced sponsor and a project manager with consistent track record in operating and maintaining projects in the roads and highways sector in India, the InvIT fund is poised to harness the upcoming opportunities in the sector. The InvIT Fund will have low leverage upon listing, providing debt capacity to finance future growth,” Reliance Infra said in the BSE filing.

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