IRB Infrastructure Trust divests three tollway assets to IRB InvIT Fund

IRB Infrastructure Trust announced the execution of a share purchase agreement on October 2, 2025, for the transfer of 100% equity share capital of IRB Hapur Moradabad Tollway Limited, Kaithal Tollway Limited, and Kishangarh Gulabpura Tollway Limited to IRB InvIT Fund.

These three Project SPVs contributed approximately 8.80% of the Trust's consolidated turnover and 14% of its enterprise value for the financial year 2024-25, with a combined contribution of ~INR 469 crore and ~INR 8,518 crore, respectively.

The transaction involves an agreed equity value of INR 4,905 crore for the Project SPVs' assets, resulting in a minimum enterprise value of INR 8,436 crore. The consideration for these assets will be received in cash. Completion of the sale is expected on or prior to October 31, 2025.

IRB InvIT Fund, an infrastructure investment trust sponsored by IRB Infrastructure Developers Limited, is the buyer. This related-party transaction has been confirmed to be conducted at arm's length, along with the repayment of subordinated debt/shareholder's loan provided by the Trust to the Project SPVs.