IRB InvIT Fund, India’s pioneering listed Infrastructure Investment Trust, has announced the successful completion of its acquisition of three major highway projects from the IRB Infrastructure Trust. The acquisition marks a significant milestone in strengthening IRB InvIT’s presence in India’s road infrastructure sector.
Sharing his thoughts on the achievement, Rushabh Gandhi, Director and CFO of IRB Infrastructure Private Limited, the Investment Manager of IRB InvIT Fund, said, “We sincerely thank our investors for their strong response and continued faith in our long-term growth strategy. This acquisition marks a meaningful step forward in our journey of value creation and sustained development.”
Adding to this, Virendra D. Mhaiskar, Chairman and Managing Director of the sponsor company, stated, “The successful completion of this transaction between the two InvITs brings immense value to all stakeholders, IRB Infra as well as both the investment trusts. The robust participation from leading domestic and global investors reflects the confidence and credibility that the IRB Group has built over the past three decades. This transaction reinforces InvITs as a transparent, reliable, and scalable platform for long-term infrastructure investments. Both entities are now strategically positioned to strengthen their portfolios, enhance distributions, and generate long-term value for their unitholders.”
Following this transaction, the three newly acquired projects Hapur-Moradabad NH-9 (Uttar Pradesh), Kaithal-Rajasthan Border NH-152/65 (Haryana), and Kishangarh-Gulabpura NH-79A (Rajasthan) are now part of IRB InvIT Fund’s asset portfolio.
With these additions, the Fund now holds nine operational highway assets, comprising eight BOT projects and one HAM project, covering more than 4,200 operational lane kilometres and a combined enterprise value exceeding Rs 16,000 crore. The weighted average concession period of IRB InvIT’s assets has also increased from 14 years to approximately 17 years.
This acquisition follows IRB InvIT Fund’s recent fund-raising initiative, its first since the trust’s listing in 2017 to finance the purchase of these assets valued at Rs 8,436 crore. The capital raise saw enthusiastic participation from a wide range of reputed domestic and international institutional investors, along with several prominent family offices, highlighting the strong market confidence in IRB InvIT’s performance and future growth potential.
Through this strategic move, IRB InvIT Fund continues to strengthen its position as a key player in India’s infrastructure investment landscape, contributing to the nation’s expanding and modernized highway network.
