• First fund-raise activity since listing of the IRB InvIT Fund in 2017
  • Strong response from the marquee global and domestic Investors   

Mumbai : IRB Infrastructure Developers Limited, India’s leading and the largest multi-national transport infrastructure developer in the highways sector has announced successful completion of the fund-raising of Rs.3,248.43 Crs by its sponsored Public InvIT, i.e., IRB InvIT Fund through Institutional Placement of Units (“IP”).

Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the Company said, “This strong response from the marquee global and domestic investors is a testament to the trust and credibility that the IRB Group has built over the years. The upsized IP underscores investor confidence in the Indian infrastructure growth story and in the InvIT platform as a credible, scalable, and transparent vehicle for long-term infrastructure investment. With this fund raise, the InvIT is now well positioned to enhance its portfolio, strengthen distributions, and create sustained value for unitholders. Additionally, the Private InvIT shall become well-positioned to unlock new growth opportunities as it gears up to fund projects worth up to ₹15,000 Crores in the next phase of expansion.”

This is the first fund-raise activity by the Company Sponsored IRB InvIT Fund since its launch and listing way back in year 2017, which witnessed strong and broad-based participation, reflecting the confidence of a diverse set of marquee long-term institutional investors, both foreign and domestic, along with several reputed family offices. Post allotment of the Institutional Placement, investors holding more than 5% of the units, excluding the sponsor, are Anahera Investment Pte. Ltd., Kotak Mahindra Bank Limited, and CIM Investment Fund ICAV. The completion of the IP is subject to listing and trading approval from the exchanges.

Highlights of the IP:

  • Total Funds Raised through IP: Rs.3,248.43Crs (Upsized from Rs.3,000Crs) 
  • Use of proceeds: Partly fund the acquisition of three BOT highway assets, Viz., Hapur – Moradabad, Kaithal – Rajasthan Border, and Kishangarh – Gulabpura from the IRB Infrastructure Trust

In addition, the Company sponsored IRB Infrastructure Trust (Private InvIT) is expected to receive approximately Rs.4,905Crs as equity consideration upon completion of the transaction. This infusion will enable the Private InvIT to pursue new highway projects worth over ₹15,000 Crores, further strengthening the Group’s development pipeline and growth prospects.

To reiterate, the Company is a Sponsor and Project Manager of the IRB InvIT Fund and holds approx. 16% stake in the IRB InvIT Fund.