SEBI Approves IRB InvIT Fund to Raise Fund Through IPO
Market regulator Securities and Exchange Board of India (SEBI) has given its approval (अनुमोदन) to IRB InvIT Fund, to raise Rs 4,300 crore through an initial public offering (IPO). IRB InvIT Fund is an investment trust sponsored(प्रायोजित) by IRB Infrastructure Developers Limited, an Indian highway
construction company head quartered in Mumbai. IRB Infrastructure Investment Trusts (InvITs) are like mutual fund schemes which pool(तालाब) in money from individual investors for investing in infrastructure initiatives. In September 2016, IRB InvIT Fund had filed its draft papers and got ‘observation’ from SEBI on February 9, 2017. This process is necessary for any entity(सत्ता) to launch public offer.
According to the draft papers, IRB InvIT’s IPO comprises fresh issue of units worth up to Rs 4,300 crore by the trust and an offer for sale of units by IRB Infrastructure Developers and its subsidiaries comprising (शामिल) Modern Road Makers, Aryan Toll Road, ATR Infrastructure and Ideal Road Builders.
The IRB InvIT Fund is sponsored by Mumbai-based toll road developer while IRB Infrastructure Pvt Ltd. is the investment manager to the trust. Some of the other such trusts registered with SEBI are GMR Infrastructure Investment Trust, MEP Infrastructure Investment Trust and IL&FS Transportation Investment Trust.
| approval | अनुमोदन | Definitions of approval noun the action of officially agreeing to something or accepting something as satisfactory. the road plans have been given approval synonyms: acceptance, agreement, consent, assent, permission, leave, sanction, endorsement, ratification, authorization, validation, support, backing, the go-ahead, the green light, the nod, the rubber stamp, the OK, the say-so, the thumbs up stamps sent by request to a collector or potential customer. |
| sponsored | प्रायोजित | Definitions of sponsor verb provide funds for (a project or activity or the person carrying it out). Joe is being sponsored by his church synonyms: finance, put up the money for, fund, subsidize, back, promote, support, contribute to, be a patron of, guarantee, underwrite, foot the bill for, pick up the tab for, bankroll introduce and support (a proposal) in a legislative assembly. Senator Hardin sponsored the bill |
| entity | सत्ता | Definitions of entity noun a thing with distinct and independent existence. church and empire were fused in a single entity synonyms: being, creature, individual, organism, life form, person, body, object, article, thing |
No comments:
Post a Comment