Announced

GIC to invest $611m in IRB's roads platform.

Synopsis

GIC, Singapore’s sovereign wealth fund, agreed to invest $611m in IRB's, a road developer, roads platform. The investment GIC includes funding of future construction costs. It will be used for deleveraging the portfolio and equity funding for under-construction projects of the portfolio. “IRB and GIC plan to also explore future road sector opportunities in India together through the Private InvIT, exhibiting IRB’s strength and domain expertise as a market leader in Indian roads and highways sector," Virendra Mhaiskar, IRB Chairman and Managing Director.

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