IRB Invit Fund has informed the Exchange regarding Notice of Extraordinary General Meeting scheduled to be held on 24/12/2025
Awaiting price reaction for this filing.
IRB InvIT Fund has called an Extraordinary General Meeting (EGM) on December 24, 2025 for unitholders to vote on acquiring 100% of VM7 Expressway Private Limited (VM7) from its Sponsor, IRB Infrastructure Developers Limited. VM7 operates a 27.50 km eight-lane section of the Vadodara–Mumbai Expressway in Gujarat on a Hybrid Annuity Mode (HAM) basis. The agreed purchase consideration is an equity value of Rs. 5,130 million, resulting in an enterprise value of Rs. 12,170 million — roughly a 7% discount to the independent valuer (Incwert Advisory) assessment. A separate Project Implementation Agreement with the Sponsor for O&M works worth up to Rs. 2,445.7 million over ~15 years is also being put to vote. Because the seller is a related party, the transaction needs unitholder approval under SEBI InvIT Regulations.
If approved, this is a yield-accretive, debt-funded acquisition (no unit dilution) that adds a stable NHAI-annuity-backed asset and locks in O&M costs via a fixed-price contract. Management expects no impact on the Trust's existing AAA credit rating, making it broadly positive for unitholder distributions, though the related-party nature means voting outcomes will be closely watched.