Shares of IRB Infrastructure Developers moved higher by over 2% after the company formally executed a Project Implementation Agreement (PIA) with IRB Chandibhadra Tollway Private Limited (IRBCTPL) for the TOT-18 project.
The agreement comes after shareholders approved material related party transactions through a postal ballot on March 23, 2026, as per the company’s regulatory disclosure.
IRBCTPL is a wholly owned special purpose vehicle (SPV) of the IRB Infrastructure Trust, which is an associate entity of IRB Infrastructure Developers. Under the terms of the agreement, the company will act as the Project Manager for IRBCTPL.
This role will be carried out in accordance with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, including subsequent amendments.
The execution of the agreement marks progress in the implementation of the TOT-18 project, with IRB Infrastructure Developers taking on a defined managerial responsibility in the project’s execution phase.
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