IRB Invit Fund has informed the Exchange regarding Issue of units through Institutional placement on 15/10/2025
Awaiting price reaction for this filing.
IRB InvIT Fund raised ₹3,248.43 crore through an institutional placement of units, upsized from the initial ₹3,000 crore target due to strong investor demand. The trust allotted 54.14 crore units at ₹60 per unit, with a discount of ₹2.69 (4.29%) to the floor price. This is the fund's first capital raise since its IPO in 2017. Marquee foreign and domestic institutional investors participated, including Anahera Investment Pte. Ltd. (38.48% of issue), Kotak Mahindra Bank (14.62%), and CIM Investment Fund ICAV (6.82%). Proceeds will partly fund the acquisition of three BOT highway assets — Hapur-Moradabad, Kaithal-Rajasthan Border, and Kishangarh-Gulabpura — from IRB Infrastructure Trust, expanding the portfolio to 9 operational highway assets and nearly doubling enterprise value from ~₹7,800 crore to over ₹16,000 crore.
Positive for unitholders — successful capital raise at a slight discount signals strong institutional confidence, and the acquisition will substantially grow the InvIT's revenue-generating asset base, potentially boosting future distributions. Existing unitholders may face near-term unit price pressure due to dilution and the discount pricing, but long-term value creation is supported by the larger portfolio.