IRB Infrastructure Developers Limited has informed that the Board at its meeting held on July 2, 2026, approved entering into Project Implementation Agreements with IRB InvIT Fund and its project SPVs to act as the Project Manager of the Public InvIT.
The agreements pertain to projects operated by Solapur Yedeshi Tollway Limited and CG Tollway Limited, collectively referred to as the Project SPVs. These SPVs are project companies of the Public InvIT. SYTL involves four-laning of the Solapur to Yedeshi section of NH-211 from km 0.000 to km 100.000 in the state of Maharashtra under NHDP Phase IV on a Design, Build, Finance, Operate and Transfer toll basis.
CGTL involves six-laning of the Kishangarh Udaipur Ahmedabad section from km 90.000 to km 214.870 of NH-79 in the state of Rajasthan under NHDP Phase V on a BOT toll mode. The agreements are valued at approximately Rs 2,663 crore on a fixed price basis inclusive of applicable taxes over the balance concession period.
The balance concession period is approximately 18 years on a weighted average life basis. The appointment as Project Manager is proposed to become effective upon completion of the transfer of 100% equity share capital of each Project SPV from IRB Infrastructure Trust to the Public InvIT.
IRB holds no shareholding in the entities with which the agreement has been executed. The parties are not related to the promoter, promoter group, or group companies in any manner, and the transaction does not fall under related party transactions under SEBI Listing Regulations. IRB has confirmed compliance with all applicable disclosure requirements in this regard.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.