IRB InvIT
Fund raises ₹3,248 cr through institutional
placement
15 October 2025
Funds to be used for acquisition
of three highway assets
The proceeds from the placement will partly fund the acquisition of three build-operate-transfer (BOT) highway assets — Hapur–Moradabad, Kaithal–Rajasthan Border, and Kishangarh–Gulabpura — from the IRB Infrastructure Trust, and for general corporate purposes.
IRB Infrastructure Trust is a
private InvIT sponsored by IRB Infrastructure
Developers.
After the acquisition, the InvIT’s portfolio will comprise nine operational highway assets — eight BOT projects and one hybrid annuity model (HAM) asset. The portfolio’s enterprise value will expand from ₹7,800 crore to over ₹16,000 crore, while the weighted average life of assets will rise from 14 years to 17 years.
Upon completion, IRB InvIT Fund will own and operate 4,225 operational lane
kilometres. The acquisitions will be finalised after securing the remaining
funds, expected to be raised through preferential issuance and debt financing.
Strong investor demand prompts issue upsize
The issue was upsized from the initial
₹3,000 crore target following robust investor response. It saw
broad-based participation, reflecting strong confidence from marquee long-term
institutional investors — both foreign and domestic — as well as reputed family
offices.
Rushabh Gandhi, Chief Financial Officer of IRB
Infrastructure, the investment manager of IRB InvIT
Fund, said, “The success of the institutional placement marks a significant
milestone in our journey since the IPO. The proceeds will be utilised to part
fund the proposed acquisition of three revenue-generating highway assets from
IRB Infrastructure Trust.”
Prominent investors and post-placement
ownership
Following allotment, investors holding more
than 5 per cent of the units (excluding the sponsor) include Anahera
Investment, Kotak Mahindra Bank, and CIM Investment Fund ICAV.
Completion of the placement
remains subject to listing and trading approvals from the stock exchanges.
‘Strong validation of India’s
infrastructure growth story’
Virendra Mhaiskar, Chairperson and Managing Director of IRB Infrastructure Developers, said, “The successful closure of the institutional placement underscores investor confidence in the Indian infrastructure growth story and in the InvIT platform.