IRB Infrastructure Developers has announced its continued role as the Project Manager for providing operation and maintenance services to certain Project SPVs of IRB InvIT Fund. The board of directors approved this decision at a meeting on May 15, 2026.
The company will continue its project management role in accordance with the SEBI (Infrastructure Investment Trusts) Regulations, 2014. The agreement involves providing services to IRB Jaipur Deoli Tollway Limited, IRB Pathankot Amritsar Toll Road Limited, and IRB Talegaon Amravati Tollway Limited. These Project SPVs are part of the IRB InvIT Fund.
The project management services will commence from April 1, 2030, and will continue until the end of the concession period for each respective Project SPV. The board has also approved amended and restated project implementation agreements with an approximate aggregate value of up to ₹1,136 crore on a fixed price basis. Including applicable taxes, the total value could reach approximately ₹1,340 crore.
This proposed transaction is subject to necessary regulatory approvals. The agreements will be executed with IRB InvIT Fund and each of the Project SPVs. IRB Infrastructure Developers holds a 16.57% stake in the Public InvIT.
The transaction is not classified as a related party transaction under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The agreements are expected to be executed following receipt of the required regulatory approvals.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).