Mumbai: Reliance Infrastructure Ltd (R-Infra) has applied to the capital markets regulator to register an infrastructure investment trust (InvIT) for its toll road projects, two people aware of the development said. InvITs manage income-generating infrastructure assets, offering investors a regular yield and a liquid method to invest in infrastructure projects. The firm is amending the object clause of its memorandum of association to include “setting up of any trusts, funds including venture capital funds, infrastructure investment trust and real estate investment trust and other alternative investment funds,” it said. The InvIT move comes at a time when the Anil Ambani-led company is also trying to sell its road assets. Reliance Infrastructure has invested Rs9,000 crore in its 11 toll road projects spanning 1,000km across seven states.

Source: Mint September 20, 2016 18:11 UTC