Target Entity: IRB InvIT Fund
Type of Deal: Investment through subscription to a preferential issue of units in an Infrastructure Investment Trust.
Stake/Capacity: The Company proposes to acquire up to 5,40,00,000 additional units.
Deal Value: ₹351,00,00,000 (Indian rupees Three Hundred Fifty-One Crore Only).
The units are proposed to be acquired at a price of ₹65 per unit.
Funding Source: Cash consideration.
Financial Impact:
The target entity, IRB InvIT Fund, reported the following financials:
- Consolidated Turnover for FY 2025-26: ₹1,484.55 crore
- Consolidated PAT for FY 2025-26: ₹338.61 crore
- Consolidated Net Worth for FY 2025-26: ₹7,737.30 crore
Historical consolidated turnover:
- FY 2024-25: ₹1,110.24 crore
- FY 2023-24: ₹1,085.90 crore
The financial impact of the acquisition itself on IRB Infrastructure Developers Limited is not explicitly disclosed.
Timeline:
The units will be acquired by the Company within the time period prescribed for preferential allotment under applicable law.
Strategic Rationale:
The proposed acquisition of units will enable the Trust to raise funds for acquisition of two project SPVs from IRB Infrastructure Trust, a privately placed listed infrastructure investment trust registered with SEBI.
Approval Status:
The transaction has received board approval from IRB Infrastructure Developers Limited. It is subject to approval of the unitholders of IRB InvIT Fund and any other regulatory approvals as may be required.
Reference Regulation:
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended - Regulation 30.
Additional Details:
- The proposed acquisition does not constitute a related party transaction.
- IRB InvIT Fund is settled by the Company (the "Sponsor") and is registered with SEBI as an Infrastructure Investment Trust.
- The Trust owns a portfolio of ten revenue generating highway assets (eight BOT assets and two HAM assets) across Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu, Punjab, Haryana and Uttar Pradesh.