IRB board approves major investment in InvIT Fund

IRB Infrastructure Developers Limited's board of directors has approved a major investment of up to Rs. 753,48,00,250 in the units of IRB InvIT Fund. This investment, through a preferential issue, will see the company acquire 11,96,95,000 additional units at a price of Rs. 62.95 per unit. The transaction, classified as a related party transaction but conducted at arm's length, is subject to necessary governmental and regulatory approvals.

The acquisition aims to enable the InvIT Fund to raise capital for acquiring three project Special Purpose Vehicles (SPVs) from IRB Infrastructure Trust. The InvIT Fund, a SEBI-registered Infrastructure Investment Trust, manages a portfolio of six operational road assets across Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu, and Punjab.

For the fiscal year 2024-25, the InvIT Fund reported a consolidated turnover of Rs. 1,110.24 crore, a PAT of Rs. 355.84 crore, and a net worth of Rs. 3,806.88 crore.