IRB Infra sells VM7 project to InvIT fund for ₹513 crore

IRB Infrastructure Developers' board of directors approved the sale of its entire stake in VM7 Expressway Private Limited (VM7) to the IRB InvIT Fund, a publicly offered and listed infrastructure investment trust. The transaction, valued at ₹513 crore as 100% equity consideration, also includes the transfer of project debt. IRB will act as the project manager for VM7 for approximately 15 years, for an aggregate fixed consideration of up to ₹2,445.7 million. This strategic move aligns with IRB’s “Bid–Execute–Stabilize–Transfer” strategy, enhancing cash flow stability and bolstering its capability for future growth.

VM7 Expressway Private Limited contributed ₹4,117.41 million (5.41%) to IRB's consolidated turnover and ₹2,825.78 million (1.43%) to its consolidated net worth for the fiscal year 2024-25. The share purchase agreement was entered on December 1, 2025, with an expected completion date of February 28, 2026. This transaction is not considered a related party transaction.

Separately, Life Insurance Corporation of India (LIC) disclosed an acquisition of 900,000 shares of IRB Infrastructure Developers on November 28, 2025, through an open market purchase. This increases LIC's total holding in IRB to 302,191,311 shares, representing 5.004% of the total share/voting capital.