Road developer IRB Infrastructure has received No Objection Certificate (NOC) from National Highway Authority of India (NHAI) for transfer of nine of its Build Operate Transfer (BOT) assets to IRB Infrastructure Trust and subsequent investment by GIC affiliates for 49 per cent stake in the Trust.
SEBI has granted the Certificate of Registration to the trust, for which IRB is a sponsor, to carry out the activities as an InvIT, subject to the conditions specified in the SEBI Act, 1992 and the Regulations made thereunder, IRB said in a filing.
Further, 98 per cent of our lenders have approved their NOCs supporting the deal and we expect to close the balance shortly, it added.
