IRB I invite ass: IRB InvIT Fund on Wednesday (October 8) launched a Qualified Institutions Placement (QIP) to raise Rs 3,000 crore, including an additional upsize option of Rs 250 crore. If this option is also exercised, the total size of this issue will be ₹ 3,250 crore.
The indicative offer price of this issue has been fixed at ₹60 per unit, which is at a 2.8% discount to the previous closing price. In July this year, IRB InvIT Fund sponsored by IRB Infrastructure Developers Limited had received unit holder approval to acquire 100 per cent equity in three special purpose vehicles (SPVs) operating DBFOT (design, build, finance, operate and toll) road projects.
These assets are currently held by the sponsor’s private InvIT, IRB Infrastructure Trust. The deal is based on an enterprise value of ₹8,436 crore as of June 30, 2025. The unitholders have also approved the appointment of the sponsor as the project manager for the operations and maintenance (O&M) of the acquired asset. This proposal was passed with 96% majority.
The proposed acquisition is subject to regulatory approvals and approvals. This is expected to add to the sponsor’s O&M order book by approximately Rs 3,100 crore.