The agreement involves the complete transfer of equity in IRB Hapur Moradabad Tollway Ltd, Kaithal Tollway Ltd, and Kishangarh Gulabpura Tollway Ltd. Together, these assets cover approximately 1,800 lane kilometres. Both the Private and Public InvIT boards approved this binding agreement on May 30, following an earlier non-binding offer made on May 8.
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The proceeds from this transaction will be allocated to upcoming road infrastructure projects valued at ₹15,000 crore. This initiative aligns with IRB Group’s strategy of asset churn, intended to recycle capital for further growth. With access to these funds, the group aims to increase its asset base from ₹80,000 crore to ₹1,40,000 crore over the next three years.
Virendra D Mhaiskar, Chairman and Managing Director, stated, “The company and IRB Infrastructure Trust can utilize the proceeds from this deal to fund future opportunities in the sector, nearly double the size of the assets being transferred. Additionally, this expansion of the IRB InvIT Fund’s portfolio enhances its weighted average life by incorporating high-revenue BOT highway assets.”
Shares of IRB Infrastructure Developers Ltd closed at ₹51.26, declining by ₹0.19, or 0.37%, on the BSE.
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First Published: May 30, 2025 10:47 PM IST