IRB Infrastructure seeks shareholder approval for ₹6,785 crore related party transaction

IRB Infrastructure Developers Ltd. has announced an Extraordinary General Meeting (EGM) to be held on Tuesday, January 13, 2026, to approve a material related party transaction. The proposal involves providing initial upgradation and operations and maintenance works for sections of National Highways 27 and 731, known as the "TOT-17 Project." The aggregate estimated value of these services is up to ₹6,785 crore, including GST at 18%.

The services will be provided to IRB Harihara Corridors Private Limited ("TOT-17 Project SPV"), a special purpose vehicle wholly owned by IRB Infrastructure Trust ("Private InvIT"). IRB Infrastructure Trust, an associate of the company, is sponsored by IRB Infrastructure Developers, which holds 51% of its unitholding. The proposed transaction is considered material, representing 89.12% of the company's annual consolidated turnover for FY 2024-25, which was ₹7,613.5 crores.

The project involves approximately ₹713 crores for initial upgradation works over two years from the appointed date (February 2026) and approximately ₹6,072 crores for Operations & Maintenance costs over a 20-year concession period. The company states this transaction aligns with its business strategy to achieve growth through SPVs/joint ventures for BOT/TOT projects.