S&R Associates represented IRB InvIT Fund (the Trust), a publicly offered listed infrastructure investment trust (InvIT) that owns and operates road assets, in an INR 20 billion institutional placement of units to eligible investors. S&R also advised on an INR 3.51 billion preferential allotment of units by the Trust to IRB Infrastructure Developers Limited, its sponsor. The proceeds of the fund-raise were used primarily for funding the acquisition of two road assets by the Trust from IRB Infrastructure Trust, a privately placed listed InvIT.
The S&R team was led by partner Pratichi Mishra, and included associates Shiv Kumar Sharma, Taneesh Shah, Shivesh Didwania and Souparna Mukherjee.
For reference, please see the stock exchange announcements below in relation to the transaction:
https://www.bseindia.com/xml-data/corpfiling/AttachLive/769be5f9-a0fe-4228-aa4c-260665894995.pdf
https://www.bseindia.com/xml-data/corpfiling/AttachHis/71e16d3f-f727-4315-b145-4bc270e05bde.pdf
https://www.bseindia.com/xml-data/corpfiling/AttachLive/80ac6451-87ee-48d1-9f18-cd951267a163.pdf