• First fund raising by IRB InvIT Fund since IPO in 2017
  • Strong response from marquee global and domestic investors   
  • Fund raise to partly fund the acquisition of three revenue-generating highway assets from IRB Infrastructure Trust

Mumbai, October 15, 2025: IRB InvIT Fund, India’s first listed Infrastructure Investment Trust, has announced the successful completion of its Institutional Placement (“Institutional Placement” or “IP”), raising ₹3,248.43 crore, upsized from the initial ₹3,000 crore target, following a strong response from Investors.

The Committee of Directors of the Investment Manager of the IRB InvIT Fund, i.e., IRB Infrastructure Private Limited approved the allotment of Units equivalent to the issue size.  

The issue 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.

Commenting on the occasion, Mr. Rushabh Gandhi, Chief Financial Officer, IRB Infrastructure Private Limited, the Investment Manager of IRB InvIT Fund, said, “We are deeply grateful to all our investors for their overwhelming response and continued trust in IRB InvIT’s strategy and growth vision. The success of the Institutional Placement  marks a significant milestone in our journey since IPO. The proceeds will be utilized to part fund the proposed acquisition of three revenue-generating highway assets from IRB Infrastructure Trust.”

Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the Sponsor, IRB Infrastructure Developers Ltd. said, “This strong response from marquee global and domestic investors is a testament to the trust and credibility that IRB Group has built over the years. The successful closure of the Institutional Placement underscores investor confidence in the Indian infrastructure growth story and in the InvIT platform. With this fund raise, we believe that the InvIT is now well positioned to enhance its portfolio, strengthen distributions, and create sustained value for unitholders.”

Highlights of the Institutional Placement:

  • Total Funds Raised through Institutional Placement: ₹3,248.43Crs (upsized from ₹3,000 crore)
  • Use of proceeds: To partly fund the acquisition of three BOT highway assets — Hapur–Moradabad, Kaithal–Rajasthan Border, and Kishangarh–Gulabpura — from the IRB Infrastructure Trust and General corporate purposes
  • Post-acquisition portfolio of the InvIT: 9 operational highway assets (8 BOT + 1 HAM)
  • Enterprise Value: Expanding from ~₹7,800 crore to over ₹16,000 crore upon completion of the acquisition
  • Weighted Average Life of Assets: Increasing from ~14 years to ~17 years upon completion of the acquisition

Upon completion of these acquisitions, IRB InvIT Fund will own and operate nine revenue-generating highway assets with a combined enterprise value exceeding ₹16,000 crore and 4,225 operational lane kilometres, extending its footprint across multiple states, including Uttar Pradesh and Haryana.

The completion of the acquisition will proceed upon securing the remaining funds, which are expected to be obtained through preferential issuance and debt financing.