IRB InvIT Fund Expands Portfolio with ₹8,436 Crore Highway Asset Acquisition
06 November 2025
IRB Infrastructure Developers Limited has announced a significant expansion of its sponsored IRB InvIT Fund, marking a notable development in India's infrastructure sector. The fund has successfully acquired three highway projects from IRB Infrastructure Trust, bolstering its asset portfolio and geographical presence.
Key Acquisition Details
The acquisition, valued at ₹8,436.00 crore, involves three key highway assets:
Hapur Moradabad NH-9 in Uttar Pradesh
Kaithal Rajasthan Border NH-152/65 in Haryana
Kishangarh Gulabpura NH-79A in Rajasthan
This strategic move has expanded IRB InvIT Fund's footprint to two additional states - Uttar Pradesh and Haryana.
Enhanced Portfolio Metrics
Following this acquisition, IRB InvIT Fund's project portfolio has seen significant growth:
|
Metric |
Before Acquisition |
After Acquisition |
|
Number of Projects |
6 |
9 |
|
Enterprise Value |
₹7,564.00 crore (approx.) |
₹16,000.00 crore (approx.) |
|
Weighted Average Concession Life |
14 years |
17 years |
|
Operational Lane Kilometers |
Not specified |
Over 4,200 |
The updated portfolio now includes 8 BOT (Build-Operate-Transfer) assets and 1 HAM (Hybrid Annuity Model) asset.
Financial Implications
To facilitate this acquisition, IRB InvIT Fund conducted its first fund-raising exercise since its 2017 launch and listing. The fund raise attracted strong participation from diverse marquee long-term institutional investors, both foreign and domestic, as well as reputed family offices.
Management's Perspective
Virendra D. Mhaiskar, Chairman & Managing Director of IRB Infrastructure Developers Limited, commented on the acquisition: "The successful conclusion of this acquisition deal between the two InvITs marks a significant value enhancement to all the Stakeholders of the IRB Group. The unlocked Capital of Rs.4,905.00 Crores through this acquisition deal will enable us to pursue upcoming opportunities in the sector worth over ₹15,000.00 Crores, further strengthening the Group's development pipeline and growth prospects to achieve Rs.1,40,000.00 Crs mark in next three years."
Market Position
This acquisition reinforces IRB Infrastructure Developers' position as a leading player in India's infrastructure sector:
Largest integrated private toll roads and highways infrastructure developer in India
Asset base of approximately ₹80,000.00 crore across 12 states
Operations spanning around 15,500 Lane Kms
33% market share in the TOT (Toll-Operate-Transfer) space
14% share in the Golden Quadrilateral Project
12% share in India's North-South highway connectivity
The successful completion of this acquisition demonstrates IRB InvIT Fund's capability as a transparent and scalable vehicle for long-term infrastructure investment, potentially setting a precedent for similar transactions in the sector.
As India continues to focus on infrastructure development, deals of this nature are likely to play a crucial role in attracting investment and facilitating the growth of the country's highway network.
Historical Stock Returns for IRB Infrastructure Developers
|
1 Day |
5 Days |
1 Month |
6 Months |
1 Year |
5 Years |
|
-1.76% |
-1.47% |
+6.36% |
-2.19% |
-15.43% |
+295.78% |