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IRB board approves asset transfer to InvIT fund worth Rs 8,450 crore
The IRB Infrastructure and Developers board on Friday approved a proposal to transfer three road assets of IRB Infrastructure Trust to IRB InvIT Fund.
The three BOT assets -- IRB Hapur Moradabad Tollway, Kaithal Tollway and Kishangarh Gulabpura Tollway -- have an enterprise value of Rs 8,450 crore, IRB Infrastructure and Developers said in an exchange filing.
"Further to the non-binding offer exchanged on 8th May 2025, IRB Infrastructure Trust and IRB InvIT Fund have now executed a binding term sheet to transfer three BOT (build-operate-transfer) Highway Assets from former to later," it said.
The three sell three BOT highway assets with enterprise value of about Rs 8,450 crore.
Virendra D Mhaiskar, Chairman & Managing Director of the company, said, "The company and IRB Infrastructure Trust can leverage deal proceeds to fund future sector opportunities almost 2x the size of assets being transferred." He further said this development propels the company towards its goal of achieving Rs 1,40,000 crore asset base in three years.
IRB is India's first integrated infrastructure player in the highways segment. It is the country's largest integrated private toll roads and highways highways infrastructure developer with an asset base of over Rs 80,000 crore in 12 states.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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