As per the revised draft paper, the offer comprises units aggregating to Rs. 2,500 Cr, with an option to maintain over subscription of up to 25 percent of the issue size in line with the InvIT Regulations.
It was in last December that Reliance Infra had filed its draft papers with the regulator to acquire Rs. 3,000 Cr, through InvIT. infrastructure investments are debt instruments, that can be traded in the market, and can be a product for sponsors with the intention for gaining positive returns. It enables promoters to monetize completed assets and raise funds for other long standing projects.
Reliance Infrastructure will be the sponsor of infrastructure investments Fund and Reliance Nippon Life AMC will be its investment manager. The issue manages by DSP Merrill Lynch, Axis Capital, SBI Capital Markets, UBS Securities, and Yes Securities. So far, only IRB InvIT Fund has hit the market for an Initial Public Offer, intending to raise more than Rs. 5,000 Cr, through the issue.