With an aim to give capital markets a big push, regulator Sebi is likely to ease out regulations for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), this month. IRB became the first company yesterday to file a draft red herring prospectus (DRHP) to raise Rs 4,300 crore for an InvIT. MEP Infrastructure too will be filing for a DRHP for InvIT within a month's time, said Vice Chairman and Managing Director Jayant Mhaiskar, adding that post that the approval is likely to come in 45 days. Funds from InvIT will be used to deleverage the balance sheet. The current debt for the company stands at Rs 2500 crore. The company will decide on valuations and promoter stake post the filing, he said, but would be looking at long-term investors for the InvIT. With regards to arbitration awards he said awards worth Rs 10-15 crore are in final stages.
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