Roadstar Infra Investment Trust has applied to SEBI to seek approval to float units of the infrastructure investment trust (InvIT). The company is in the business of toll road construction.
Last week, Mumbai based toll road developer, IRB Infrastructure Trust filed a placement memorandum with the regulator to seek its approval to float its second issue of InvIT. Its first issue IRB Infrastructure InvIT was launched in May 2017, which raised close to Rs.5000 crore.
Currently, Roadstar Infra Investment Trust and IRB Infrastructure Trust are two companies waiting for the regulator’s nod to issue their units.
An InvIT is like a mutual fund that pools funds from many institutional investors for investing in infrastructure projects such as roads, telecommunication towers or power plants to earn regular returns.
Digital Fibre Infrastructure Trust, India Grid Trust, India Infrastructure Trust, Indian Highway Concessions Trust, IndInfravit Trust, IRB Infrastructure Developers, IRB InvIT Fund, MEP Infrastructure, Oriental InfraTrust, and Tower Infrastructure Trust are the ten InvITs registered with SEBI.