The Build-Operate-Transfer (BOT) assets — IRB Hapur Moradabad Tollway, Kaithal Tollway, and Kishangarh Gulabpura Tollway — are expected to be transferred by the second quarter of the financial year ending March 2026, the company said in a regulatory filing.
The agreement follows a non-binding offer exchanged between the entities earlier this month on May 8.
“This is a remarkable feat, benefiting both InvITs and charting out their path to sustainable growth,” said Virendra D. Mhaiskar, Chairman and Managing Director of IRB Infrastructure Developers. “The company and IRB Infrastructure Trust can leverage deal proceeds to fund future sector opportunities almost 2x the size of assets being transferred,” he added.
The transaction is expected to enhance the IRB InvIT Fund’s portfolio and extend its weighted average life by adding high-revenue BOT highway assets.
The assets span around 1,800 lane kilometres and carry an aggregate enterprise value of ₹8,450 crore, with a corresponding equity value of ₹4,905 crore.
IRB Infrastructure Developers is India’s largest integrated private highways and toll roads player, with an asset base exceeding ₹80,000 crore across 12 states.
