IRB Infrastructure Developers has formally executed a Project Implementation Agreement (PIA) with IRB Chandibhadra Tollway Private Limited (IRBCTPL) for the TOT-18 Project. This agreement follows the approval of material related party transactions by the company’s shareholders through a postal ballot on 23 March 2026.
IRBCTPL is a wholly owned special purpose vehicle (SPV) of the IRB Infrastructure Trust, which is an associate of IRB Infrastructure Developers. The company will serve as the Project Manager for IRBCTPL, in accordance with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, as amended.
This agreement marks a significant step in the implementation of the TOT-18 Project, with IRB Infrastructure Developers taking on a key managerial role in the project’s execution.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).