New Delhi, IRB Infrastructure Developers Ltd on Thursday said its sponsored platforms, IRB Infrastructure Trust and IRB InvIT, fund have executed a binding term sheet to transfer two build-operate-transfer (BOT) highway assets to IRB InvIT fund at an enterprise value of Rs 4,605 crore.IRB Infrastructure Developers in a statement said the board of directors of the investment managers of both entities have agreed to proceed with the deal at their respective board meetings on Thursday.The two BOT projects to be transferred under the deal from IRB Infrastructure Trust to IRB InvIT Fund are Solapur Yedeshi NH211 (Maharashtra) and Chittorgarh Gulabpura NH79 (Rajasthan).IRB Infrastructure Developers Chairman & Managing Director Virendra D Mhaiskar said this scalable model cements IRB's transition into a premier sponsor and O&M platform, "accelerating our progress towards building an asset base of Rs 1,40,000 crore over the next 3-4 years".
RB Infrastructure Trust to transfer two BOT Highway assets with enterprise value of Rs 4,605 crore
IRB Infrastructure Developers announced a significant deal where its sponsored platforms will transfer two BOT highway assets, Solapur Yedeshi and Chittorgarh Gulabpura, to IRB InvIT Fund for Rs 4,605 crore. This strategic move reinforces IRB's position as a leading sponsor and O&M platform, propelling its ambition to build a substantial asset base in the coming years.
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