IRB InvIT Fund , a prominent infrastructure investment trust, has recently made significant announcements regarding its unitholding pattern and credit ratings. These updates come in the wake of a successful institutional placement and affirm the fund's strong financial position in the market.

Unitholding Pattern Update

IRB InvIT Fund has issued a corrigendum to its extraordinary meeting notice, providing an updated post-issue unitholding pattern. This update follows the completion of an institutional placement, where 54,14,05,000 units were issued, aggregating ₹32,484.30 million.

The revised unitholding pattern shows:

The total outstanding units now stand at 1,28,16,00,000.

Credit Rating Affirmations

In a separate announcement, India Ratings & Research has converted IRB InvIT Fund's bank loan facilities' provisional rating to final rating and affirmed ratings for multiple instruments:

These ratings underscore the fund's strong credit profile and financial stability.

Implications for Investors

The successful institutional placement and the subsequent update in unitholding pattern reflect investor interest in IRB InvIT Fund. The significant public holding of 82.27% suggests a diverse investor base and potentially good liquidity for the units.

Moreover, the affirmation of 'AAA' ratings across various instruments by India Ratings & Research indicates the fund's robust financial health and its ability to meet financial commitments. This could be reassuring for both existing unitholders and potential investors looking for stable infrastructure investment opportunities.

As the infrastructure sector continues to be a key focus area for India's economic growth, IRB InvIT Fund's position in the market may present opportunities for investors interested in this sector.

Investors and market participants are advised to consider these developments in their investment decisions and to keep an eye on future announcements from IRB InvIT Fund for any additional updates or changes.

IRB InvIT Fund , India's first listed Infrastructure Investment Trust, has successfully completed an institutional placement of units, raising ₹3,248.43 crore. The fund has subsequently updated its unitholding pattern, reflecting significant changes in its investor base and capital structure.

Key Highlights of the Institutional Placement

• Fund Raised: ₹3,248.43 crore (upsized from the initial target of ₹3,000 crore)
• Units Issued: 54,14,05,000 units
• Issue Price: ₹60.00 per unit (at a 4.29% discount to the floor price of ₹62.69)
• Purpose: To partly fund the acquisition of three revenue-generating highway assets from IRB Infrastructure Trust and for general corporate purposes

Updated Unitholding Pattern

Following the institutional placement, IRB InvIT Fund's total outstanding units have increased to 1,12,19,05,000. The updated unitholding pattern reveals significant changes in the trust's ownership structure:

Breakdown of Public Holding

Notable Investors

Post-allotment, the following investors hold more than 5% of the units (excluding the sponsor):

1. Anahera Investment Pte. Ltd.
2. Kotak Mahindra Bank Limited
3. CIM Investment Fund ICAV

Management Commentary

Mr. Rushabh Gandhi, Chief Financial Officer of IRB Infrastructure Private Limited (the Investment Manager of IRB InvIT Fund), stated, "We are deeply grateful to all our investors for their overwhelming response and continued trust in IRB InvIT's strategy and growth vision. The success of the Institutional Placement marks a significant milestone in our journey since IPO."

Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the Sponsor, IRB Infrastructure Developers Ltd., added, "This strong response from marquee global and domestic investors is a testament to the trust and credibility that IRB Group has built over the years. The successful closure of the Institutional Placement underscores investor confidence in the Indian infrastructure growth story and in the InvIT platform."

Future Outlook

Upon completion of the proposed acquisitions, IRB InvIT Fund is set to expand its portfolio to nine revenue-generating highway assets with a combined enterprise value exceeding ₹16,000 crore and 4,225 operational lane kilometres. This expansion will extend the trust's footprint across multiple states, including Uttar Pradesh and Haryana.

The successful fund raise and the subsequent update in the unitholding pattern demonstrate IRB InvIT Fund's ability to attract diverse institutional investors and its commitment to growth in the infrastructure sector. As the trust moves forward with its acquisition plans, unitholders and market observers will be keenly watching the impact on distributions and long-term value creation.