RInfra InvIT Fund's IPO gets SEBI approval

Mumbai: Reliance Infrastructure (RInfra) on Wednesday said that RInfra InvIT has received the final approval from securities market regulator SEBI to float its Rs 2,500 crore plus Initial Public Offering (IPO).

Sources told IANS that the proposed IPO is expected to be launched in two weeks` time.

"RInfra InvIT has received the final observation letter from SEBI for its proposed IPO of units representing an undivided beneficial interest in the Trust. The proposed issue size is Rs 25,000 million with an option to retain over subscription up to 25 percent of the issue size," the company said in a statement here.

Reliance Nippon Life Asset Management Limited is the investment manager to the InvIT. Axis Capital, DSP Merrill Lynch and UBS Securities are acting as global coordinators and book running lead managers.

SBI Capital Markets and Yes Securities are acting as book running lead managers.