IRB Invit Fund has informed the Exchange regarding Annual Full Valuation report for assets for FY ended 2024-25
Awaiting price reaction for this filing.
IRB InvIT Fund has filed its annual valuation report for the financial year ended March 31, 2025, prepared by KPMG Valuation Services LLP and GMD Consultants. The total assets of the fund stand at Rs 14,085.5 crore with liabilities of Rs 8,533.5 crore, arriving at net assets of Rs 5,552 crore. The Net Asset Value (NAV) per unit at fair value is Rs 95.64, based on 580.5 crore outstanding units. The enterprise value of its six underlying road SPVs is Rs 7,827 crore, spanning five BOT toll assets and one HAM asset across Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Punjab. This is a routine annual disclosure required under SEBI InvIT Regulations, and the current NAV of Rs 95.64 is below the original issue price of Rs 102 from the May 2017 listing.
The NAV of Rs 95.64 per unit is below the original IPO price of Rs 102, which may be a concern for long-term unitholders. The valuation provides transparency on the underlying asset worth and serves as the basis for distribution decisions by the investment manager. The stock price reaction will likely depend on how this NAV compares to the prevailing market price and investor expectations on future toll revenue.