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IRB Infrastructure Trust gets listed on NSE

Over the past four years, the Trust's project portfolio has made remarkable progress, reaching an enterprise value of nearly Rs 27,000 crore with a remaining concession life of over 18 years.

April 03, 2023 / 18:27 IST
The listing of IRB Infrastructure Trust was done to comply with SEBI InvIT regulations, which require all InvITs to be listed.
     
     
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    IRB Infrastructure Trust, sponsored by IRB Infrastructure Developers Ltd and supported by investment from GIC Affiliates, became the first privately placed InvIT to list on the NSE. The listing on April 3 was done to comply with SEBI InvIT Regulations, which require all InvITs to be listed.

    Over the past four years, the Trust's project portfolio has made remarkable progress, reaching an enterprise value of nearly Rs 27,000 crore with a remaining concession life of over 18 years.

    The valuation of the trust units was determined through third-party evaluation, which was further endorsed by the Trust's investors. The value determined was approximately 16 times the FY24 revenue and is expected to continue appreciating as more projects are added to the Trust's portfolio.

    ALSO READ: Toll collected by IRB Infra, its private InvIT arm jumps 27% YoY in February to Rs 352 crore

    IRB Infrastructure Developers Limited, the sponsor of IRB Infrastructure Trust, is India's largest integrated multinational infrastructure developer with a portfolio of 23 highway projects spanning approximately 16,000 lane Kms and an enterprise value of Rs 62,000 crore.

    In February 2023, the cumulative toll collection by IRB Infrastructure Developers Ltd and its private infrastructure investment trust, IRB Infrastructure Trust, increased 27 percent to reach Rs 352 crore, compared to the same period last year when the company reported a cumulative toll collection of Rs 277.47 crore.

    Currently, the IRB group's project portfolio comprises 23 road projects, including 18 BOT (build, operate, and transfer) projects, one TOT (toll-operate-transfer) project, and four HAM (hybrid annuity mode) projects, both in the private and public InvIT.

    Moneycontrol News
    first published: Apr 3, 2023 06:27 pm

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