Infrastructure India has raised £61m (us$102) from Barnet Holdings

IIP : Infrastructure India has raised £61m (us$102) from Barnet Holdings

Infrastructure India has announced that it has placed 337,607,041 new 1p ordinary shares at 18p (a 24% premium above the mid-market closing price of 14.5p on the 14th July) raising £61m (US$ 102m) before expenses. In accordance with a subscription agreement, announced on 20 August 2014, Barnet Holdings Limited has subscribed for all of the shares. Barnet is an affiliate of IIP’s majority indirect shareholder, GGIC Limited, and GGIC and Barnet are deemed to be acting in concert. As a result, the combined direct and indirect interests of GGIC and Barnet in the Company will now rise from GGIC’s current indirect interest of 175,324,980 ordinary shares (51.17 % of IIP’s share capital) to a combined 512,932,021 ordinary shares (75.40% of IIP’s share capital).

IIP is an AIM quoted investment company focused on investment in Indian infrastructure. There are currently five assets in the portfolio (two of which are wholly owned) with exposure to rail logistics, hydro electric power, a toll road and wind farms.