IRB InvIT Fund , an infrastructure investment trust, has successfully completed a significant institutional placement, raising approximately ₹3,248.43 crore. The fund issued 54.14 crore units at ₹60 per unit, marking a strategic move in the infrastructure investment sector.

Key Details of the Placement

Placement Process and Approval

The Committee of Directors of IRB Infrastructure Private Limited, the investment manager for IRB InvIT Fund, played a crucial role in overseeing the placement process. The committee approved several key aspects of the issue:

1. Closure of the Issue: The committee confirmed the receipt of application forms and funds from eligible institutional investors, leading to the immediate closure of the issue.

2. Allocation Approval: In compliance with SEBI InvIT Regulations and the Master Circular, the committee approved the allocation of units to institutional investors.

3. Documentation: The committee finalized the confirmation of allocation notes to be sent to eligible institutional investors and adopted the placement document.

Market Implications

This substantial fund-raising effort by IRB InvIT Fund demonstrates continued investor interest in the infrastructure sector. The slight discount offered on the floor price suggests a strategic approach to attract institutional investors while balancing the fund's valuation.

The successful completion of this placement could potentially strengthen IRB InvIT Fund's position in the market and provide it with additional capital for infrastructure investments and projects.

Investors and market watchers will likely keep a close eye on how IRB InvIT Fund utilizes this significant capital infusion and its impact on the fund's future performance and infrastructure development initiatives.

IRB InvIT Fund , an infrastructure investment trust, has announced plans to raise approximately ₹1,005 crore through a preferential issue of units. The fund has scheduled an Extraordinary Meeting of Unitholders on November 1, 2025, to seek approval for this significant capital raising initiative.

Key Details of the Preferential Issue

The proposed preferential issue involves the following key aspects:

Proposed Allottees

The preferential issue will be made to two entities:

1. IRB Infrastructure Developers Limited (Sponsor):

   • Subscribing to 11.97 crore units
   • Investment amount: ₹753 crore

2. Larsen and Toubro Limited (Non-sponsor):

   • Subscribing to 4 crore units
   • Investment amount: ₹252 crore

Purpose of the Fund Raise

The funds raised through this preferential issue will be utilized for partial funding of the acquisition of three tollway companies:

1. IRB Hapur Moradabad Tollway Limited
2. Kaithal Tollway Limited
3. Kishangarh Gulabpura Tollway Limited

Issue Price Determination

The issue price of ₹62.95 per unit has been determined based on the volume-weighted average prices, with the relevant date set as October 1, 2025.

Approval Process

The resolution for this preferential issue requires a special majority approval, with at least 60% of votes cast in favor. Unitholders will have the opportunity to participate in remote e-voting from October 27 to October 31, 2025. The cut-off date for voting eligibility has been set as October 25, 2025.

Meeting Details

The Extraordinary Meeting will be conducted through video conferencing on November 1, 2025, at 11:00 AM IST. This virtual format ensures maximum participation of unitholders regardless of their geographical location.

Impact on Unitholding Pattern

Post the preferential issue, assuming full subscription, the unitholding pattern of IRB InvIT Fund is expected to change as follows:

Conclusion

This preferential issue represents a strategic move by IRB InvIT Fund to raise capital for expanding its portfolio of toll road assets. The participation of both the sponsor and a major non-sponsor entity indicates confidence in the fund's growth prospects. Unitholders should carefully consider the proposal and exercise their voting rights accordingly.