IRB Infrastructure Developers completes Rs 381.63 crore fundraising

New Delhi: IRB Infrastructure Developers on Tuesday said it has completed a total fundraising of Rs 381.63 crore, with a Rs 194.63-crore investment in its sponsored IRB Infrastructure Trust. IRB Infrastructure Trust was jointly launched by the company and Singapore-based GIC Affiliates with 51 per cent and 49 per cent holding, respectively.

IRB Infrastructure Trust, the private InvIT sponsored by IRB Infrastructure Developers and the GIC Affiliates, Singapore-based sovereign fund, completed the fundraising of Rs 381.63 crore by way of rights issue.

"While the sponsors IRB Infra invested Rs 194.63 crore; GIC Affiliates invested Rs 187 crore," IRB Infrastructure Developers said in a statement.

Virendra D Mhaiskar, chairman and managing director of IRB Infrastructure Developers, said that with this investment of Rs 194.63 crore in the IRB Infrastructure Trust, the company's aggregate equity investments across its road portfolio have crossed the Rs 9,000-crore-mark.

The company's portfolio comprises wholly-owned concessions, 51 per cent ownership in private infrastructure investment trust (InvIT) and 16 per cent ownership in public InvIT.