New Delhi: Anil Ambani Group flagship Reliance Infrastructure has filed fresh papers with markets regulator Sebi for its proposed InvIT Fund IPO, reducing the issue size to Rs 2,500 crore from Rs 3,000 crore earlier.
The initial public offer comprises "units aggregating to Rs 2,500 crore with an option to retain over subscription of up to 25 per cent of the issue size in accordance with the InvIT Regulations", as per the revised draft paper.
Last December, RInfra had filed draft papers with Securities and Exchange Board of India (Sebi) to garner Rs 3,000 crore through infrastructure investment trust (InvIT).
InvIT are debt instruments which can be traded in the market and can act as investment vehicles for the sponsors.
Listing of instruments enables promoters to monetise completed assets and raise funds for other long-term projects.
The issue is being managed by Axis Capital, DSP Merrill Lynch, UBS Securities, SBI Capital Markets and Yes Securities.
So far, only IRB Infrastructure Developers' infrastructure investment trust -- IRB InvIT Fund -- has hit the market for an IPO. It is aiming to raise more than Rs 5,000 crore through the issue.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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