IRB Infrastructure Developers has approved an investment of up to ₹351 crore in IRB InvIT Fund.

Investment details

The board of IRB Infrastructure Developers sanctioned this capital allocation during its meeting held on August 26, 2026. The company plans to subscribe to a preferential issue of units in IRB InvIT Fund, for which it acts as the sponsor. The transaction is subject to unitholder approval and other regulatory clearances.

Purpose and target entity profile

The proposed acquisition aims to enable the trust to raise funds for acquiring two project special purpose vehicles from IRB Infrastructure Trust, another privately placed listed infrastructure investment trust registered with SEBI. The consideration will be paid in cash.

IRB InvIT Fund operates as a SEBI-registered infrastructure investment trust established under the Indian Trusts Act, 1882. It owns, operates, and maintains a portfolio of ten revenue-generating highway assets, comprising eight build-operate-transfer (BOT) assets and two hybrid annuity model (HAM) assets across Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu, Punjab, Haryana, and Uttar Pradesh.

Financial data for the trust shows consolidated turnover of ₹1,484.55 crore for FY26, compared to ₹1,110.24 crore in FY25 and ₹1,085.90 crore in FY24. Consolidated profit after tax (PAT) for FY26 stood at ₹338.61 crore, with a net worth of ₹7,737.30 crore.

IRB Infrastructure Developers board approved a scheme of amalgamation for nine wholly-owned subsidiaries on August 26, 2026. The move aims to simplify the corporate structure and reduce administrative costs without altering the shareholding pattern.

The board meeting, held in Mumbai, authorized the merger of the transferor companies with the holding company pursuant to Sections 230 to 232 of the Companies Act, 2013. Since the entities are wholly owned, no consideration will be payable and no new shares will be issued.

Scheme Details

The amalgamation covers nine subsidiaries operating across infrastructure, road projects, tolling, and hospitality. The transferor companies include ATR Infrastructure Private Limited, Aryan Toll Road Private Limited, Aryan Hospitality Private Limited, IRB Goa Tollway Private Limited, IRB Infra Industries Private Limited, GE1 Expressway Private Limited, IRB PS Highway Private Limited, Mhaiskar Infrastructure Private Limited, and Thane Ghodbunder Toll Road Private Limited.

Note: Net worth figures are as on June 30, 2026. Turnover is for the quarter ended June 30, 2026.

Regulatory Compliance

The scheme is exempt from obtaining a No-Objection Letter from stock exchanges under Regulation 37(6) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. It is also exempt from related-party transaction norms under Regulation 23(5)(b) of the same regulations.

The proposal requires approval from the National Company Law Tribunal, Mumbai Bench, among other statutory authorities. The company disclosed that the transaction will enhance operational synergies and management oversight while eliminating compliance redundancies associated with maintaining separate subsidiary entities.