Infrastructures developers like IRB, GMR and IL&FS are keen to launch their infrastructure investment trust, which gives them an opportunity sell their stake in completed projects to the trust, which in turn can raise long-term and tax-free funds from unit holders. Reliance Infrastructure has already registered the trust with capital market regulator Securities and Exchange Board of India (SEBI) and will soon file a prospectus for approval.

Reliance Infrastructure’s trust will own 10 road projects, and the company is keen to add another road project if SEBI allows.Reliance Infrastructure, which is divesting in non-core assets to raise funds to pare debt, is also working on monetisation of roads and Mumbai power business in progress. It recently completed the 100% sale of cement subsidiary to Birla Corp for Rs 4,800 crore.