Affiliates of Singapore’s GIC set to invest up to Rs 4,400 crore in IRB Infrastructure

Indian Express: August 07, 2019

 The net revenue of the portfolio in 2018-19 was around Rs 630 crore and on completion of construction, the enterprise value of the portfolio is estimated at Rs 22,500 crore, the release said.

 Affiliates of Singapore’s sovereign wealth fund GIC will invest up to Rs 4,400 crore in road assets of IRB Infrastructure Development. Nine of IRB’s build-operate-transfer (BOT) assets will be transferred to a private infrastructure investment trust (InVIT) in which it will hold a 51 per cent controlling stake, the firm said in a press release.

 The net revenue of the portfolio in 2018-19 was around Rs 630 crore and on completion of construction, the enterprise value of the portfolio is estimated at Rs 22,500 crore, the release said.

 The portfolio spans across around 1,200 km across Haryana, Uttar Pradesh, Rajasthan, Gujarat, Maharashtra and Karnataka. Three of the nine projects are operational and the remaining six are at various stages of construction. Five of the assets under construction are four-to-six laning projects, where tolling as well as construction has already begun. 

Link: https://indianexpress.com/article/business/affiliates-of-singapores-gic-set-to-invest-up-to-rs-4400-crore-in-irb-infra-5884244/

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