IRB Chandibhadra Tollway Private Limited | Business Upturn

IRB Infrastructure Developers signs project implementation agreement for TOT-18

Business Desk — Tue, 24 Mar 2026 16:44:39 +0000

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).

IRB Infrastructure Trust finalises agreements for TOT-18 project

Kinjal — Tue, 24 Mar 2026 16:29:18 +0000

IRB Infrastructure Trust has executed definitive agreements for the implementation of the TOT-18 Project, marking a significant step forward in its investment strategy. This follows the approval by unitholders at an extraordinary meeting held on February 26, 2026.

The agreements have been signed by the Investment Manager and Trustee of the Trust with the Sponsor, Financial Investors, and IRB Chandibhadra Tollway Private Limited (IRBCTPL), the special purpose vehicle for the TOT-18 Project. This execution allows the Trust to proceed with its planned investments in IRBCTPL, contingent upon the fulfilment of specified conditions precedent.

Additionally, the Trust has entered into a project implementation agreement, appointing the Sponsor as the project manager for IRBCTPL. This agreement is crucial for the effective management and execution of the TOT-18 Project.

The Trust’s decision to move forward with these agreements underscores its commitment to expanding its infrastructure portfolio and enhancing its operational capabilities through strategic investments.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IRB Infrastructure Trust secures Rs 2,385 crore for TOT-18 project in Odisha

Kinjal — Fri, 20 Mar 2026 17:30:36 +0000

IRB Infrastructure Trust has successfully achieved financial closure for the TOT-18 Project, securing a sanction of ₹2,385 crore for its implementation. The project involves the tolling, operation, maintenance, and transfer of the Chandikhole – Bhadrak section of NH-16 in Odisha.

IRB Chandibhadra Tollway Private Limited, the Special Purpose Vehicle (SPV) for the TOT-18 Project, has tied up senior debt of ₹2,385 crore from the Trust to facilitate the project’s execution. This development follows earlier disclosures made by the Trust on February 11, 2026, and February 26, 2026.

The TOT-18 Project spans approximately 74.50 kilometres and involves a bid concession fee of ₹3,087 crore, which the Trust will pay upfront to the National Highways Authority of India (NHAI). The concession period is revenue-linked and extends over 20 years.

The project will see an annual tariff revision, comprising a fixed 3% per annum increase plus 40% of the Wholesale Price Index (WPI). Tolling and operations and maintenance activities are set to commence from the appointed date.

IRB Infrastructure Developers Ltd will act as the project manager for the TOT-18 Project, overseeing its implementation and management.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).