IRB InvIT Fund share price target

Powergrid Corporation (PWGR) is commencing its asset monetization drive by Invit mechanism from 29th April to 3rd May. Invit offer size of Rs77.3bn is priced at Rs99100/unit. PWGR acting as a sponsor has transferred 11 operational power transmission line with an AUM of Rs72bn to Powergrid Invit (POVIT). The entire 11 asset has annuity like revenue with transmission line availability of 98%+. POVIT entails annual net distributable cash flow (NDCF) of Rs10-10.6bn to unit holders over FY22-24. This implies an attractive yield of 11-11.5% versus Indigrid (Sterlite Sponsor) trading at 9.5-10%. For growth in NDCF, POVIT aims to a) acquire remaining 26% stake of the SPV from PWGR, and...

An Infrastructure Investment Trust (InvITs) is a Collective Investment Scheme similar to a mutual fund, which enables direct investment of money from individual and institutional investors in infrastructure projects to earn a small portion of the income as return.

India Grid Trust, an infrastructure investment trust (InviT) established to own inter-state power transmission assets in India. IndiGrid was established on October 21, 2016 by its Sponsor, Sterlite Power Grid Ventures Limited, and is registered with SEBI pursuant to the InviT Regulations. Its Sponsor is one of the leading independent power transmission companies operating in the private sector, with extensive experience in bidding, designing, financing, constructing and maintaining power transmission projects across India. The Company is focused on providing stable and sustainable distributions to its Unit holders. It believes that it is well positioned to take advantage of the growth potential of India's power transmission industry given its financial position, support from its Sponsor and the robust regulatory framework for power transmission in India. The Company believes that infrastructure necessary to transmit and deliver electricity is vital to India's continued economic advancement given the inter-regional power deficit resulting from a mismatch between power generation and load centers and the demand-supply deficit which is expected to result from India's...

Repayment/prepayment of loans/facilities availed by Project SPVs from respective senior lenders Prepayment of subordinate debt provided to Project SPVs by the Sponsor and Project Manager; and Prepayment of unsecured loans and advances availed by Project SPVs from the Sponsor, Project Manager and...

IRB InvIT Trust is the Registered Infrastructure Investment Trust under the InvIT Regulations. The Trust primarily intends to own, operate and maintain a portfolio of six toll-road assets in the Indian states of Maharashtra, Gujarat, Rajasthan, Karnataka and Tamil Nadu. The Trusts Sponsor is IRB Infrastructure Developers Limited, one of ..

IRB InvIT Trust, a registered infrastructure investment trust under the InvIT Regulations. It primarily intend to own, operate and maintain a portfolio of six toll-road assets in the Indian states of Maharashtra, Gujarat, Rajasthan, Karnataka and Tamil Nadu. These toll roads are operated and maintained pursuant to concessions granted by the NHAI. The Company believes that, upon the listing of the Units on the Stock Exchanges, it will be the first listed infrastructure investment trust focused on toll-road assets in India. The Company's sponsor is IRB Infrastructure Developers Limited, one of the largest infrastructure development and construction companies in India in terms of net worth in the roads and highways sector according to the NHAI's annual prequalification for public private partnerships in national highway projects report for 2016. The Sponsor has been listed on the Stock Exchanges since 2008. Excluding the toll-road assets that are being transferred by the Sponsor to the Company pursuant to the Formation Transactions (as described below), as of December 31, 2016, the...

Issue Open: May 03 - May 05 2017, Price Band: Rs. 100 - 102, Issue Size: 45.63304 cr units (including Fresh issue of 42.15686 cr units Offer for sale 3.476177 cr units) option to retain oversubscription upto 25% of issue. size.

IRB Infrastructure Investment Trust (InvIT) is slated to be India's first publicly listed infrastructure investment trust. Through the trust, IRB Infrastructure Developers Ltd (Sponsor) will hold operational NHAI toll road assets aggregating to 3,645 lane km of highways across five states in western and southern India. These assets are operational and generate income through inflation-linked tariff hikes. They have weighted average balance concession period of ~16 years. Investors are expected to be...