IRB Infrastructure Developers Limited
Execution of Project Implementation / Management Agreements with IRB InvIT Fund
Main Body
IRB Infrastructure Developers Limited has executed Project Implementation / Management Agreements (PIA) with IRB InvIT Fund (Public InvIT) to act as the Project Manager. The agreements were executed on September 29, 2026, following the company's earlier disclosure dated July 2, 2026, regarding approval to enter into these agreements.
The agreements cover two project SPVs (Special Purpose Vehicles) that were transferred from IRB Infrastructure Trust to the Public InvIT:
1. Solapur Yedeshi Tollway Limited (SYTL) - Four laning of Solapur Yedeshi Section from km 205.600 to km 304.317 (Design Length 98.717 km) in Maharashtra under NHDP Phase IV on Design, Build, Finance, Operate and Transfer (DBFOT) Toll basis
2. CG Tollway Limited (CGTL) - Six laning of Kishangarh Udaipur Ahmedabad Section from km 90.000 (near Gulabpura) to km 214.870 (end of Chittorgarh Bypass) of NH-79 in Rajasthan Package-2 under NHDP Phase V on BOT (Toll) mode
The financial consideration is approximately ₹2,663 crore on a fixed price basis (inclusive of applicable taxes) over the balance concession period, which has an approximately 18-year weighted average life.
The company holds no shareholding in IRB InvIT Fund, and the parties are not related to promoter/promoter group/group companies in any manner. The transaction does not qualify as a related party transaction under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The execution is in pursuance of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, as amended, and complies with SEBI Master circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.