IRB Invit Fund has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
IRB InvIT Fund's board has approved the re-appointment of IRB Infrastructure Developers Limited (the Sponsor) as Project Manager for three toll road SPVs — IRB Jaipur Deoli Tollway, IRB Pathankot Amritsar Toll Road, and IRB Talegaon Amravati Tollway. The contract covers operation and maintenance works from April 1, 2030 until the end of each SPV's concession period. The aggregate fixed price is approximately INR 1,136 crore (plus taxes, totalling ~INR 1,340 crore including 18% GST). The transaction is a related party transaction with the Sponsor holding 16.57% of the Trust, and it is stated to be on an arm's length basis. It is subject to applicable regulatory approvals.
The reappointment ensures continuity of O&M services for key toll road assets beyond the current concession tenures, providing revenue visibility. However, as a related party deal worth over INR 1,100 crore, it will attract regulatory scrutiny and unitholder attention.