IRB Infrastructure Developers Limited has informed the Exchange about Update provided by IRB Infrastructure Trust (an associate of the Company) regarding issuance of a preliminary and non-binding offer (the "NBO") by the Board of Directors of MMK Toll Road Private Limited, the Investment Manager to IRB Infrastructure Trust (the "Private InvIT") on May 14, 2026 to IRB InvIT Fund, a publicly offered and listed infrastructure investment trust
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IRB Infrastructure Trust (Private InvIT), an associate of IRB Infrastructure Developers, has made a preliminary and non-binding offer to IRB InvIT Fund (Public InvIT) for the transfer of two toll road assets. The assets are Solapur Yedeshi NH211 in Maharashtra (395 lane kms, ~Rs.2,354 Crs) and Chittorgarh Gulabpura NH79 in Rajasthan (749 lane kms, ~Rs.2,309 Crs), with a combined enterprise value of approximately Rs.4,663 Crores as of March 31, 2026. This transfer is pursuant to the Right of First Offer granted to the Public InvIT. Following the transaction, IRB InvIT Fund's enterprise value would increase to approximately Rs.23,000 Crores. The NBO is subject to regulatory approvals and definitive agreements, with no assurance the transaction will be completed.
This is a positive development as it demonstrates IRB's capital recycling strategy, transferring mature highway assets from the private InvIT to the public InvIT. For IRB Infrastructure Developers shareholders, this could drive value by deploying proceeds from asset sales into new growth opportunities while expanding the listed InvIT's asset base.