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Infra construction firm Dilip Buildcon to float InvIT to raise Rs.4,000-Cr

Economic Times  

Dilip Buildcon Ltd (DBL), a private infrastructure construction company, plans to float an infrastructure investment trust (InvIT) by early next fiscal year. DBL is likely to raise about INR 4,000 crore through the proposed InvIT, where the equity value of the assets under the venture would be INR 4,500-5,000 crore. The assets may fetch an enterprise value of INR 15,000 crore. DBL has 23 hybrid annuity model (HAM) projects (including 11 projects secured in fiscal 2021), along with two mine development and operator projects, which entail a total equity commitment of INR 1,390 crore over FY22-FY24.