The IRB Infrastructure Trust is a private invitation to the IRB infrastructure and developers, while the IRB Invit Fund is a public invitation hand that is sponsored by IRB infrastructure and developers.
The IRB Infrastructure Trust will transfer the assets of its three highways, including IRB invit funds, IRB infrastructure and developers said in a filing on 31 May, IRB Inwit funds will have an enterprise price of about Rs 8,450 crore.
The company said, “Unitholders of IRB Invit Fund have approved the proposed acquisition of 100 percent of 3 SPV equity share capital from IRB Infrastructure Trust. The transaction is based on an agreed enterprise value of 8,436 CR by June 30, 2025.” ,
Unitholders of the trust have given their approval for the proposed acquisition of 100 percent equity share capital of three SPVs with a majority of 96 percent to the exchanges.
The three bots (build-operate-transfer) highway assets are IRB Hapur Mordabad Tollway, Kaithal Tollway and Kishangarh Gulabpura Tolway. Virendra D Mahaiskar, Chairman and Managing Director of IRB Infrastructure and Developers, said, “… Unitholders of IRB Inwit Fund have demonstrated their strong confidence and confidence in the development strategy of the fund by passing the resolutions. We are committed to actively exploring opportunities to connect quality property in portfolio. The operation and maintenance of IRB infrastructure developers (O&M) Order Book is now expected to increase by about Rs 3,100 crore, which takes the total order book to about Rs 33,600 crore after the acquisition.
India is the first integrated infrastructure player in the IRB highway segment.
It is the country's largest integrated private toll roads and highway infrastructure developers with assets of more than Rs 80,000 crore in 12 states.
