IRB Infrastructure Developers Limited has informed the Exchange about Agreements to continue to act as Project Manager top certain SPVs of IRB InvIT Fund
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IRB Infrastructure Developers Limited's Board has approved continuing to act as Project Manager for three toll road SPVs of IRB InvIT Fund - IRB Jaipur Deoli Tollway Limited, IRB Pathankot Amritsar Toll Road Limited, and IRB Talegaon Amravati Tollway Limited. The company will provide operation and maintenance services from April 1, 2030 until the end of each SPV's concession period. The agreements have an aggregate value of approximately INR 1,136 crore on fixed price basis (approximately INR 1,340 crore including GST). IRB currently holds 16.57% units of the Public InvIT. The transaction is not classified as a related party transaction and is subject to regulatory approvals.
This is a positive development as it secures INR 1,136 crore in revenue streams for IRB extending into the 2030s, providing long-term operational visibility. The stock may see a neutral to slightly positive reaction given this is a continuation of existing arrangements rather than new business.