GIC may invest Rs 15 billion in IRB InvIT

Singapore’s sovereign wealth fund, GIC, is currently evaluating an investment worth Rs 1.5 trillion in IRB Infrastructure Trust, an infrastructure investment trust (InvIT) sponsored by IRB Infrastructure Developers. The proposed investment will be used to fund the acquisition of the Hyderabad Outer Ring Road (ORR) project, which the IRB group won under the toll-operate-transfer (TOT) monetisation plan for a sum of Rs 73.80 billion. This transaction would involve GIC and IRB making investments of approximately Rs 1,500 billion each into the InvIT. If GIC decides to acquire the road project with IRB, it will be acquired through the InvIT, in which GIC controls a 49 per cent stake.