IRB InvIT Fund has approved the acquisition of VM7 Expressway Private Limited, a wholly-owned subsidiary of its sponsor, IRB Infrastructure Developers Limited. The Board of IRB InvIT Fund has given its approval for the acquisition at an enterprise value of INR 12,170.00 million, subject to regulatory approvals and unitholder consent.

Key Details of the Approved Acquisition

Here are the essential details of the approved acquisition:

Project Highlights

The VM7 Expressway project offers several features:

• Revenue-generating operational asset
• Located in Gujarat
• Turnover of INR 4,117.41 million
• Additional long-term operation and maintenance agreement

Rationale for the Acquisition

The acquisition aligns with IRB InvIT Fund's strategy to acquire revenue-generating assets. Key aspects include:

• Long-term visibility of cash flows through the operational project
• Potential to enhance the overall portfolio of the fund
• Additional revenue stream through the operation and maintenance agreement

Current Status and Way Forward

While the Board has approved the acquisition, the transaction is subject to:

• Regulatory approvals
• Unitholder consent

An Extraordinary General Meeting has been scheduled for December 24, 2025, to seek unitholder approval for the acquisition.

This acquisition represents a step for IRB InvIT Fund in expanding its infrastructure portfolio. The market will be watching the developments as the fund moves forward with this acquisition.

IRB InvIT Fund , a prominent infrastructure investment trust, has announced a significant increase in its toll revenue for November 2025. The fund reported a 16% year-on-year growth compared to November 2024, showcasing strong performance across its portfolio of Special Purpose Vehicles (SPVs).

Revenue Growth

The fund's gross toll revenue increased by 16% on a year-on-year basis for November 2025. This growth reflects improved performance across the fund's infrastructure portfolio, benefiting unitholders and demonstrating the operational strength of the tollway assets.

Key Contributors

Multiple tollway projects contributed to this growth, including:

• IRB Tumkur Chitradurga Tollway Limited
• M.V.R. Infrastructure & Tollways Limited

Previous Month's Performance

For context, in October 2025, the fund had reported an 11% year-on-year growth compared to October 2024. The breakdown for October 2025 was as follows:

Upcoming Financial Results

IRB InvIT Fund has scheduled its Q2 and H1 FY26 results announcement for November 13, 2025. The fund plans to conduct an earnings call on the same day at 4:30 pm IST to discuss the Trust's performance.

Board Meeting and Distribution Consideration

The Board of Directors of the Investment Manager of IRB InvIT Fund is set to meet on November 13, 2025, to consider and take on record the consolidated and standalone unaudited financial information for the quarter and half year ended September 30, 2025. The board will also consider the declaration of the 2nd distribution, if any, for the financial year 2025-26. If declared, the record date for this distribution will be November 18, 2025.

The strong growth in toll revenue suggests a positive trend for IRB InvIT Fund, potentially indicating improved traffic flow and operational efficiency across most of its projects. Investors and analysts will likely look forward to the upcoming financial results and any distribution announcements for a more comprehensive view of the fund's performance.