Sebi approves IRB Infra’s application for InvIT

By: | Updated: March 18, 2016 12:31 AM

Securities and Exchange Board of India (Sebi) has approved IRB Infrastructure Developers' application for Infrastructure Investment Trust (InvIT), paving the way for launch of India's first such instrument.

Securities and Exchange Board of India (Sebi) has approved IRB Infrastructure Developers’ application for Infrastructure Investment Trust (InvIT), paving the way for launch of India’s first such instrument.

In a notice sent to stock exchanges, Mumbai-based road developer said, “Sebi has granted the certificate of registration in terms of Regulation 6 of Sebi (Infrastructure Investment Trusts) Regulations, 2014 (Regulations) to IRB InvIT Fund to which the company is a sponsor”.

According to sources, the company is in the process of preparing draft red herring prospectus (DRHP) and it will take around four months for it to file it. To enable the process of InvIT, the company in August, had sought shareholders’ nod to increase its capital base by Rs 16,000 crore.

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