IPO: Bharat Highways InvIT Seeks SEBI Approval To Raise Rs 2,000 Crore
NDTV
Bharat Highways InvIT was set up in August 2022 to acquire 100 per cent stake in each of Project SPVs from GR Infrastructure Ltd
Infrastructure investment trust Bharat Highways InvIT has filed draft prospectus with the capital markets regulator Sebi to mop-up Rs 2,000 crore through an initial public offering (IPO).
Proceeds of the issue will be used to repay certain loans obtained by the Project SPVs (special purpose vehicles) and for general corporate purposes, according to the draft red herring prospectus (DRHP).
These SPV projects include Porbandar-Dwarka Expressway, Varanasi-Sangam Expressway, GR Sangli-Solapur Highway, GR Akkalkot-Solapur Highway, GR Phagwara Expressway and GR Gundugolanu-Devarapalli Highway.
Bharat Highways InvIT was set up in August 2022 to acquire 100 per cent stake in each of Project SPVs from GR Infrastructure Ltd including GDDHPL, wherein the InvIT proposes to initially acquire 49 per cent stake.