IRB Infrastructure Trust has sanctioned the refinancing of debt for six of its Project SPVs, drawing approximately Rs 5,530 crore to refinance debt for three specific entities. The Trust, rated AAA/Stable by CRISIL Ratings, has executed this financial restructuring to enhance unitholder returns by optimizing debt amortization and realizing tax benefits inherent in the InvIT structure. The strategic pooling of cashflows at the Trust level is expected to yield interest savings of approximately 160 basis points.

The six Project SPVs identified for the refinancing sanction include Palsit Dankuni Tollway Private Limited (PDTPL), Meerut Budaun Expressway Limited (MBEL), Samakhiyali Tollway Private Limited (STPL), IRB Lalitpur Tollway Private Limited (IRBLTPL), IRB Kota Tollway Private Limited (IRBKTPL), and IRB Gwalior Tollway Private Limited (IRBGTPPL). Of these, the Trust has drawn funds specifically for IRBLTPL, IRBKTPL, and IRBGTPPL.

Refinancing Details

The move to upstream project-level debt to the InvIT is designed to significantly improve cashflows available for unitholders. The restructuring leverages the InvIT structure to optimize tax benefits and debt amortization schedules.

Key Financial Metrics

The filing was submitted by Kaustubh Purushottam Shevade, Company Secretary and Compliance Officer, on behalf of MMK Toll Road Private Limited, the Investment Manager to IRB Infrastructure Trust.

IRB Infrastructure Trust has approved raising debt of up to Rs 12,500 crore, primarily to refinance existing project loans of six project SPVs. The decision was taken by the Board of Directors of the Investment Manager to the Trust at its meeting held on June 16, 2026. This capital raising initiative is subject to receipt of necessary approvals, following which the Trust and the respective Project SPVs will enter into agreements regarding the proposed facility.

The Board also convened the 7th Annual Meeting of the Unitholders of the Trust, scheduled for Thursday, July 23, 2026. The meeting will be conducted through Video Conference or other Audio Visual Means. Additionally, the Annual Report of the Trust for the financial year 2025-26 will be presented during the meeting.

In another key decision, the Board approved the appointment of M/s. KPMG Valuation Services LLP as the valuer of the Trust and its Project SPVs for the financial year 2026-27. This appointment is subject to the approval of the unitholders. KPMG Valuation Services LLP holds an IBBI registration number IBBI/RV-E/06/2020/115.

Key Approvals