International pension funds have shown an interest in investing in SKIL Infrastructure, an Indian infrastructure developer that is planning to raise up to INR25 billion (€417.5 million; $536.12 million), according to local media.
SKIL Infrastructure is reportedly planning to divest around 20 percent through a two-phase process in order to raise a total of INR25 billion. The stake sale will de done via a private placement to overseas investors and an initial public offer on the Bombay stock exchange, to take place in October, local media reports suggest.
The developer is understood to have received a good response on the private placement from long-term investors, such as pension funds, with local media suggesting that the private placement might be completed in the next four-to-five weeks.
The Indian developer aims to use the funds raised to target investments in infrastructure, including education initiatives. The company plans to invest a total of INR120 billion across these sectors over the next three years.
SKIL Infrastructure is a privately held company based in Mumbai with investments in ports, shipyards, railway lines, roads and urban infrastructure.
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