IRB InvIT Fund Acquires 3 SPVs for Rs 8436 Cr

New Delhi, Jul 4 (PTI) The unitholders of IRB InvIT Fund have approved the proposed acquisition of 100 per cent of equity share capital of three special purpose vehicles (SPVs) from IRB Infrastructure Trust, an exchange filing said on Friday.

IRB Infrastructure Trust is the private InvIT associate of IRB Infrastructure and Developers, while IRB InvIT Fund is a public InvIT arm sponsored by IRB Infrastructure and Developers.

IRB Infrastructure Trust will transfer its three highway assets, having an enterprise value of around Rs 8,450 crore, to IRB InvIT Fund, IRB Infrastructure and Developers had said in a filing on May 31.

The company said, "IRB InvIT Fund's unitholders have approved the proposed acquisition of 100 per cent of the equity share capital of 3 SPV from the IRB Infrastructure Trust. The transaction is based on an agreed enterprise value of Rs 8,436 crs as of June 30, 2025."

The exchanges that the unitholders of the trust have given their approval to the proposed acquisition of the 100 per cent equity share capital of three SPVs with a majority of 96 per cent.

The three BOT (build-operate-transfer) highway assets are IRB Hapur Moradabad Tollway, Kaithal Tollway, and Kishangarh Gulabpura Tollway.

Virendra D Mhaiskar, Chairman & Managing Director of IRB Infrastructure and Developers, said, "...unitholders of the IRB InvIT Fund have demonstrated their strong trust and confidence in the Fund's growth strategy by passing the resolutions. We remain committed to enhancing unitholder value by actively exploring opportunities to add quality assets to the portfolio.”

The IRB Infrastructure Developers' operations and maintenance (O&M) order book now is expected to increase by approximately Rs 3,100 crore, taking the total order book to about Rs 33,600 crore after the acquisitions.

IRB is India's first integrated infrastructure player in the highways segment.

It is the country's largest integrated private toll roads and highways infrastructure developer with an asset base of over Rs 80,000 crore in 12 states.