Infrastructure trusts plan IPOs

摘要

Indian companies are preparing IPOs of infrastructure investment trusts, a new financial instrument in the country, in an attempt to pare down high debt, despite as yet unclear tax implications. Two companies, irb infrastructure and cmr infrastructure, filed applications for infrastructure investment trust IPOs with the Securities and Exchange Board of India in the week of February 8. A third, mep infrastructure, plans to follow suit soon. The trusts, reminiscent of Singapore-listed business trusts, would be publicly traded and hold infrastructure assets.