GIC may invest Rs 15 billion in IRB InvIT

GIC, Singapore’s sovereign wealth fund, is currently evaluating an investment worth Rs 1.5 trillion in IRB Infrastructure Trust, an InvIT sponsored by IRB Infrastructure Developers. The proposed investment will be used to fund the acquisition of the Hydera­bad Outer Ring Road project, which the IRB Group secured under the toll-operate-transfer monetisation plan for Rs 73.8 billion. Under the proposed transaction, both GIC and IRB would contribute investments of approximately Rs 1,500 billion each to the InvIT. If GIC decides to acquire the road project with IRB, it will be executed through the InvIT, where GIC holds a 49 per cent stake.