IRB Infrastructure's arm to transfer three BOT highway assets worth ₹8,450 crore to IRB InvIT
Published on 30/05/2025 10:47 PM
IRB Infrastructure's arm to transfer three BOT highway assets worth ₹8,450 crore to IRB InvITThe deal involves the transfer of 100% equity in IRB Hapur Moradabad Tollway Ltd, Kaithal Tollway Ltd, and Kishangarh Gulabpura Tollway Ltd. Shares of IRB Infrastructure Developers Ltd ended at ₹51.26, down by ₹0.19, or 0.37%, on the BSE.By Jomy Jos Pullokaran May 30, 2025, 10:47:27 PM IST (Updated)2 Min ReadIRB Infrastructure Developers Ltd on Friday (May 30) announced that its associate, IRB Infrastructure Trust, has signed a binding term sheet to transfer three Build-Operate-Transfer (BOT) highway assets to the IRB InvIT Fund (the Public InvIT) at an enterprise value of approximately ₹8,450 crore. The equity value of the transaction stands at around ₹4,905 crore.
The deal involves the transfer of 100% equity in IRB Hapur Moradabad Tollway Ltd, Kaithal Tollway Ltd, and Kishangarh Gulabpura Tollway Ltd. These assets collectively span around 1,800 lane kilometres. The boards of both the Private and Public InvITs approved the binding agreement on May 30, following an earlier non-binding offer exchanged on May 8.
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Proceeds from the transaction will be used to fund upcoming road infrastructure projects worth ₹15,000 crore. The move is aligned with IRB Group’s asset churn strategy, aimed at recycling capital for growth. With access to these funds, the group aims to expand its asset base from ₹80,000 crore to ₹1,40,000 crore over the next three years.
Virendra D Mhaiskar, Chairman and Managing Director, said, "The company and IRB Infrastructure Trust can leverage deal proceeds to fund future sector opportunities, almost 2x the size of assets being transferred. Furthermore, this expansion in IRB InvIT Fund's portfolio enhances its weighted average life with the addition of high-revenue BOT highway assets."
Shares of IRB Infrastructure Developers Ltd ended at ₹51.26, down by ₹0.19, or 0.37%, on the BSE.
Also Read: Toll revenue to grow in low double digits this year, says IRB InfraContinue ReadingFirst Published: May 30, 2025 10:47 PM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsIRB Infrastructure Developersshare market today