IRB InvIT Fund has executed definitive agreements for the acquisition of VM7 Expressway Private Limited, advancing its strategic expansion in India's infrastructure sector. The trust announced the completion of this significant transaction on January 23, 2026, through a regulatory filing to the stock exchanges.

Transaction Overview

The acquisition involves VM7 Expressway Private Limited, which serves as the concessionaire for the Vadodara Mumbai Expressway project. The following table outlines the key transaction details:

Regulatory Timeline and Approvals

The transaction follows a structured approval process that began with initial disclosures in December 2025. The trust had previously disclosed details about the proposed acquisition on December 1, 2025, providing stakeholders with comprehensive information about the strategic initiative. Subsequently, unitholders of IRB InvIT Fund granted their formal approval for the acquisition on December 24, 2025, demonstrating strong stakeholder support for the expansion strategy.

Project Implementation Framework

As part of the comprehensive transaction structure, the trust has entered into Project Implementation Agreements with the sponsor. These agreements establish a clear operational framework for the VM7 Project going forward. Under the terms of these agreements, IRB Infrastructure Private Limited will assume the role of Project Manager for the VM7 Project upon the closing of the share purchase agreement.

The Project Implementation Agreements ensure continuity of project management expertise and maintain operational efficiency during the transition period. This arrangement leverages the sponsor's existing capabilities while integrating the asset into the trust's portfolio.

Strategic Significance

The VM7 Expressway acquisition represents a significant addition to IRB InvIT Fund's infrastructure portfolio. The Vadodara Mumbai Expressway project enhances the trust's presence in critical transportation corridors connecting major economic centers in western India. This strategic positioning aligns with the trust's objective of building a diversified portfolio of revenue-generating infrastructure assets.

The successful execution of definitive agreements marks the completion of the formal acquisition process, with the trust now moving toward the operational integration phase of the VM7 Project.