NewsIRB InvIT Fund Receives Preliminary Non-Binding Offer from IRB Infrastructure Trust for Acquisition of Two Toll Road AssetsIRB InvIT Fund Receives Preliminary Non-Binding Offer from IRB Infrastructure Trust for Acquisition of Two Toll Road Assets
IRB InvIT Fund received a preliminary and non-binding offer on May 14, 2026, from IRB Infrastructure Trust for the potential acquisition of two toll road assets — Solapur Yedeshi Tollway Limited (98.717 km on NH-211, Maharashtra) and CG Tollway Limited (124.87 km on NH-79, Rajasthan). Both assets are completed and revenue-generating, and are proposed to be acquired together under a right of first offer arrangement. The offer remains subject to due diligence and requisite approvals, with the Investment Manager set to evaluate it as per applicable law.
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IRB InvIT Fund has received a preliminary and non-binding offer (NBO) dated May 14, 2026, from IRB Infrastructure Trust, acting through its investment manager MMK Toll Road Private Limited (referred to as "Private InvIT"). The offer was noted by IRB Infrastructure Private Limited, the Investment Manager to the Trust, and relates to a potential acquisition opportunity arising from the right of first offer granted by Private InvIT to the Trust.
Potential Assets Under Consideration
The NBO covers two completed and revenue-generating infrastructure assets currently held by Private InvIT. These assets are proposed to be offered and acquired together. The details of the two project SPVs are as follows:
| Parameter: | Asset 1 | Asset 2 |
|---|---|---|
| Project SPV: | Solapur Yedeshi Tollway Limited | CG Tollway Limited |
| State: | Maharashtra | Rajasthan |
| National Highway: | NH-211 | NH-79 |
| Project Description: | Four Laning of Solapur to Yedeshi section of NH-211 from km 0.000 to km 100.000 (Design Length 98.717 km) under NHDP Phase IV on DBFOT Toll basis | Six Laning of Kishangarh Udaipur Ahmedabad Section from km 90.000 (near Gulabpura) to km 214.870 (end of Chittorgarh Bypass) of NH-79, Package-2 under NHDP Phase V on BOT (Toll) mode |
| Length (in Kms): | 98.717 | 124.87 |
Nature and Status of the Offer
The NBO is described as preliminary and non-binding in nature. It remains subject to completion of due diligence and receipt of all requisite approvals. The Investment Manager has stated that it will evaluate the NBO in accordance with applicable law. No definitive agreement or binding commitment has been established at this stage.
Key Highlights
- Both assets are completed and revenue-generating infrastructure projects
- The assets are proposed to be acquired together as a package
- The offer is based on the right of first offer previously granted by Private InvIT to the Trust
- The NBO was dated May 14, 2026
- Evaluation will proceed as per applicable law
The disclosure was made by Swapna Arya, Company Secretary and Compliance Officer of IRB Infrastructure Private Limited, in her capacity as Investment Manager to IRB InvIT Fund.
Historical Stock Returns for IRB InvIT Fund
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.32% | -1.33% | -2.41% | -0.89% | +10.69% | +11.47% |
How might the acquisition of these two toll road assets impact IRB InvIT Fund's distribution per unit and overall yield for unitholders?
What valuation metrics and traffic growth trends should investors monitor for the Solapur-Yedeshi and Kishangarh-Udaipur-Ahmedabad corridors to assess fair pricing of this deal?
Could this acquisition trigger a need for IRB InvIT Fund to raise additional capital through a rights issue or institutional placement, and how might that affect unit dilution?
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