IRB Infrastructure Developers on Tuesday said it has received the first tranche of investment of Rs 3,753 crore from GIC affiliates.
In a regulatory filing, IRB Infrastructure Developers said Rs 3,753 crore from GIC affiliates has been received out of its commitment of Rs 4,400 crores by IRB Infrastructure Trust.
“The balance commitment will be invested on the progress of construction of the under-construction projects,” the filing added.
In August 2019, the company had announced signing of definitive agreements with GIC affiliates, for an investment up to Rs 4,400 crore — amounting to 49 per cent stake in a portfolio of nine of its assets through Private InvIT structure (IRB Infrastructure Trust), while IRB was to retain controlling stake of 51 per cent in the Trust.
