IRB Board Greenlights Major Asset Transfer
The IRB Infrastructure board approved transferring three road assets to IRB InvIT Fund, valued at Rs 8,450 crore. The move aligns with a binding agreement following a non-binding offer made on May 8, 2025. This positions IRB closer to a Rs 1,40,000 crore asset base goal in three years.
- Country:
- India
The board of IRB Infrastructure and Developers has sanctioned the transfer of three significant road assets to the IRB InvIT Fund. This transfer, approved on Friday, involves assets valued at Rs 8,450 crore.
In an exchange filing, IRB Infrastructure reported that the assets include the IRB Hapur Moradabad Tollway, Kaithal Tollway, and Kishangarh Gulabpura Tollway.
Virendra D Mhaiskar, Chairman & Managing Director of the company, highlighted that the fund generated from this deal will significantly boost future sector investments, aiming to reach an asset base target of Rs 1,40,000 crore within three years.
(With inputs from agencies.)
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