IRB InvIT Fund, an infrastructure investment trust (InvIT) promoted by road developer IRB Infrastructure has declared the distribution of Rs. 3.00 per unit for Q2 of the FY19 as the InvIT’s cash flow distribution for the quarter stood at around Rs. 174 Crore. 

On a half year basis this has resulted in total per unit distribution of Rs. 6.05, out of which Rs. 4.45 is Interest component and rest Rs. 1.60 is return on capital, the company said.

“This is the sixth consecutive quarter, where we have successfully maintained a payout of at least Rs. 3 per unit, even with transport strike for over a week during the quarter,” spokesperson for IRB Infrastructure Pvt. Ltd. said. 

The Trust has set 31st October 2018 as a record date for distribution and the distribution will be paid or dispatched to the unit holders on or before 6th November 2018, the company said.

Earlier this month, CARE Rating has re-affirmed IRB InvIT with the “AAA” rating with the Stable Outlook for the long term bank facilities of Rs.1,536.36 Crore.

 According to CARE, the rating assigned to the InvIT continues to reflect high credit quality and established operational track record of the underlying toll road assets while it also derives strength from the complete repayment of senior debt, sponsor’s sub-debt and loans and advances in the SPVs from proceeds of the Initial Public Offer (IPO) of the InvIT.Thereby, translating into healthy debt coverage of the trust group.

 IRB InvIT Fund owns, operates and maintains a portfolio of seven toll - road assets in the Indian states of Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Punjab.

These toll roads projects are Bharuch– Surat NH 8, Jaipur–Deoli NH 12, Surat–Dahisar NH 8, Tumkur–Chitradurga NH 4, Omalur–Salem–Namakkal NH 7, Talegaon–Amravati NH 6 and Amritsar-Pathankot NH15

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