Reliance Infrastructure Ltd (RInfra) will hold roadshows for its ₹2,000-crore Qualified Institutions Placement (QIP) issue by May, according to CEO Lalit Jalan.

Interacting with BusinessLine on the sidelines of the company’s earnings press conference, Jalan said that the company’s board has already given approval for the QIP. Shareholder consent is being sought through a postal ballot. Simultaneously, paperwork is also progressing well with the bankers, he said.

The money raised through the QIP would be used for defence business, reduction of debt and other corporate purposes.

Jalan said RInfra promoted Reliance Aerostructure Ltd’s joint venture (JV) with Dassault Aviation has been incorporated and has received Competition Commission of India’s clearance.

The JV will have a major role in meeting offset obligation worth ₹30,000 crore. The groundwork for the JV’s factory will start next month, he said. Reliance Aerostructure Ltd will have 51 per cent shareholding in the JV, while Dassault Aviation (DA) will hold 49 per cent.

On the company’s plans for raising ₹3000 crore through InvIT (Infrastructure Investment Trust) fund for its road assets, Jalan said that next week the company will go back to SEBI for seeking a final approval for the fund. Once SEBI gives its consent, the company is confident of launching the fund after mid-May.

In December 2016, RInfra had filed the draft offer documents with SEBI for the InvIT fund with a proposed issue size of ₹3,000 crore with an option to retain oversubscription up to 25 per cent.

Jalan also added that the share purchase agreement and term sheet with Adani Transmission for 100 per cent sale of Western Region System Strengthening Scheme (WRSSS) transmission assets and Parabati Koldam Project has been signed, which had helped reduce RInfra’s debt by ₹2,000 crore.

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