IRB Infrastructure Trust

IRB Infrastructure Trust is a 'Private Trust', registered under the Indian Trusts Act 1882 and SEBI's Infrastructure Investment Trusts Regulations 2014. The Trust is held by the IRB Infrastructure Developers Ltd. as Sponsors with stake of 51% and 49% by GIC. The Trust own, operate and maintain a portfolio of ten tollroad assets in the Indian states of Maharashtra, Gujarat, Uttar Pradesh, Rajasthan, Karnataka, Haryana and West Bengal. These toll roads are operated and maintained, pursuant to concessions granted by the NHAI. Recently the Trust listed its units with National Stock Exchange of India Limited w.e.f. April 3, 2023. The Sponsor of the Trust is IRB Infrastructure Developers Limited, one of the largest infrastructure development and construction companies in India in terms of net worth in the roads and highways sector. The Trust has 14 highways assets in the States of Maharashtra, Rajasthan, Goa, Karnataka, Haryana, Uttar Pradesh, West Bengal, Telangana, and Madhya Pradesh, which are being managed in pursuant to the Concessions granted by the respective Nodal Agencies. In April, 2022, the Trust came up with an Initial Public Offer of 24,429,805 Units representing an undivided beneficial interest in the Trust at a price of Rs 100 per Unit aggregating up to Rs 244.30 million on a rights basis to Eligible Unitholders in the ratio of 1 Unit for every 35 Units held by them on April 8, 2022. The Trust acquired 99.96% equity stake in Palsit Dankuni BOT Project SPV effective on April 21, 2022. In 2022, the Kaithal Rajasthan Four Laning Project on NH 152/65 in Haryana became operational following, Agra Etawah Six Laning Project on NH 19 (Old NH 2); Hapur Morabadad Six Laning Project on NH 9 (Old NH 24); Kishangarh Gulabpura NH-79/79A Project; Gulabpura - Chittorgarh NH-79 Project; Udaipur Shamlaji Six Laning Project on NH 48 (Old NH 8); Palsit Dankuni Six Laning Project on NH 19; Solapur Yedeshi Four Laning Project on NH 211; Yedeshi - Aurangabad NH-211 Project; Karwar Kundapura Four Laning Project on NH-17; Samakhiyali Santalpur Six Laning of 90.9 Kms stretch on NH 27; Kota Bypass NH76 and Gwalior Jhansi NH44 TOT Project, Lalitpur Lakhnadon NH 44 TOT Project was completed and made functional. The Trust manages an extensive network of road assets, encompassing 9,790 lane kms across 15 operational road assets with combined enterprise value of Rs 51979 Crore, as of March 31, 2024. In 2023-24, Hyderabad Outer Ring Road commenced the tolling activities on August 12, 2023. Samakhiyali Santalpur BOT commenced the construction and tolling activities on December 28, 2023. The Trust had emerged as Selected Bidder through competitive bidding process for TOT12 Project i.e. Tolling, Operation, Maintenance and Transfer of four lane Lalitpur-Sagar-Lakhnadon section from km 99.005 to km 415.089 of NH-44 in the state of Uttar Pradesh and Madhya Pradesh. Both TOT-12 & TOT-13 commenced tolling activities from April 1, 2024. The Trust had emerged as Selected Bidder through competitive bidding process for TOT13 Project i.e. Tolling, Operation, Maintenance and Transfer of Kota Bypass and Cable Stay Bridge on NH-76 (New NH-27) in the state of Rajasthan and Gwalior-Jhansi section from km 0.00 to km 103.000 (revised section Km. 16.000 to Km. 98.455) of NH-75 (New NH-44) in the State of Madhya Pradesh and Uttar Pradesh on Toll Operate and Transfer (TOT) Mode, which commenced toll collection from April 1, 2024.