Indian infra names prepare first ever InvITs

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By Jonathan Breen
15 Feb 2016

GMR Infrastructure and IRB Infrastructure Developers are seeking separate approvals from India’s stock market regulator to launch the country’s first publicly listed infrastructure investment trusts (InvITs).

IRB has hired at least two investment banks to work on its deal — one international and the other domestic, according to an ECM banker in India.

GMR has not yet selected any banks but international and onshore institutions are bidding for the business, said the banker.

But ...

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