Executive Summary
Infrastructure India Plc is a newly incorporated Isle of Man closed-ended investment company established to provide investors with the opportunity of investing in Indian infrastructure assets. The Companys investment strategy is to provide shareholders with capital growth and income by investing in infrastructure assets, focused specifically on the energy and transport sectors. The Companys investment policy, in summary, is as follows: * Overall focus - invest at the asset level or via specific holding companies set up to invest in infrastructure projects in India. Such investments are to be primarily focused on the broader sectors of energy and transport * Sector weighting - focused on investing in assets close to the commencement of operations, typically within 18 months of planned commercial operation * Asset allocation - focus on purely equity investment at the SPV level in infrastructure assets in India * Risk diversification - geographical diversification within India and diversification within the project types, counterparty, payment mechanisms and co-investment partners. * Gearing - there will be no gearing at the Company level for at least 18 months from Admission. Thereafter, should the Directors decide that gearing at a Company level is desirable, it will be limited to no more than 50% of total capital. Gearing at the non-recourse SPV level will typically be at a debt/equity ratio of 70/30, but may rise as markets develop in India * Maximum exposures - single investments will typically represent no more than 30% of the Groups NAV (measured at the time of investment) and not more than 50% of the Groups NAV. Subject to this, there will be no minimum or maximum stakes that the Company can take in projects although its target size of equity investment in any one entity is likely to be between ?10m and ?30m.
