Toll road firm MEP Infrastructure Developers plans to raise over Rs.1,200 crore from an infrastructure investment trust (InvIT), which it hopes to launch in the last quarter of this fiscal, a top company official has said.
¨We have already submitted our proposal for forming InvIT in March to the Securities and Exchange Board of India (SEBI) for its in-principle approval and we expect to get the clearance this month,¨ company´s Vice-Chairman and Managing Director Jayant Mhaiskar said.
Once the in-principle approval is in place, the company will start the process for forming the InvIT, he said.
Mhaiskar also added that the company is hopeful of launching the project before March 2017.
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