Sponsored IRB InvIT Fund completes Rs.2,351 Crs fund-raise via institutional placement and preferential allotment
IRB InvIT Fund (sponsored by the company) completed a Rs.2,351Crs fund-raise: Rs.2,000 Crs QIP at ₹63/Unit plus Rs.351 Crs preferential allotment to the company to keep its approx. 16% stake.
- QIP Amount
- Rs.2,000 Crores
- Preferential Allotment Amount
- Rs.351 Crores
- Issue Price per Unit
- ₹63 per Unit
- Total Fund-raise
- Rs.2,351 Crores
- Company Stake Maintained
- Approximately 16%
What happened
IRB InvIT Fund, the public InvIT sponsored by the company, has completed a fund-raise of Rs.2,351Crs.
- Qualified Institutional Placement: Rs.2,000 crore
- Preferential Allotment: Rs.351 crore
Issue details
- Allotment of 317,460,316 Units to eligible institutional investors
- Issue Price ₹ 63/- per Unit, including a discount of ₹ 1.26/- per Unit (1.96% of the Floor Price)
- Aggregating to ₹ 20,000 million
- Post-issue unitholding capital of the Trust: 1,653,060,316 Units
- Issue opened September 24, 2026 and closed September 28, 2026
Where the money goes
Proceeds will partly fund the acquisition of two BOT highway assets — Solapur Yedeshi NH211 in Maharashtra and Chittorgarh Gulabpura NH79 in Rajasthan — from IRB Infrastructure Trust (the private InvIT), and general purposes.
What it means for the company
IRB Infrastructure Developers is Sponsor and Project Manager of the InvIT. It invested Rs.351Crs through the preferential allotment (made on September 25, 2026) to maintain its approx. 16% stake. The private InvIT, also sponsored by the company, is expected to receive approximately Rs.2,744Crs as equity consideration as seller of the highway assets upon completion, which management says will support new highway projects.
Portfolio position
- Current public InvIT portfolio: 9 highway assets (7 BOT + 2 HAM), 4,170 Lane Kms, enterprise value approx. Rs.17,900 Crs, weighted average life 16 years plus
- Post-acquisition: 11 operational assets (9 BOT + 2 HAM), 5,314 Lane Kms, enterprise value over Rs.20,000Crs, weighted average concession life around 17 years
Large allottees (over 5% of the issue)
- Anahera Investment PTE LTD (FPI): 55,555,555 Units, 17.50% of issue
- Arvesta Financial Services: 39,682,540 Units, 12.50%
- Prazim Trading And Investment Company: 39,682,539 Units, 12.50%
- ICICI Pension Fund NPS schemes: 1,98,41,269 Units, 6.25%
- NEO Alternatives Investment Trust: 19,047,619 Units, 6.00%
- HSBC Mutual Fund schemes: 1,73,80,952 Units, 5.47%
Points to note
The asset acquisition is a related-party style transfer within the IRB group (private InvIT to public InvIT) and the update notes the transaction is subject to various conditions precedent. This is the second fund-raise by the InvIT since its 2017 listing; the first, last year, raised Rs.4,253Crs for three highway assets of Rs.8,643Crs enterprise value.
Also from IRB Infrastructure Developers
CARE AA; Stable assigned to IRB Infrastructure's Rs. 459.00 crore long-term facilities, CARE A1+ to Rs. 50.00 crore short-term
6 Oct 2026
Fitch affirms Long-Term Issuer Default Rating and US-dollar senior secured notes at BB+; Outlook Stable
5 Oct 2026
Moody's Reaffirms Ba1 Corporate Family Rating and Ba2 Notes Rating, Outlook Stable
1 Oct 2026
More numbers
- Total fund-raiseRs.2,351Crs
- QIP portion2,000
- Preferential allotment portion351
- Units allotted in institutional placement317,460,316 Units
- Issue price per unit₹63/- per Unit
- Discount per unit₹1.26/- per Unit
- Discount to floor price1.96%
- Post-issue unitholding capital1,653,060,316 Units
- Company stake in InvIT maintained(approx.) 16%
- Equity consideration expected by private InvITapproximately Rs.2,744Crs
- Post-acquisition portfolio lane kms5,314 Lane Kms
- Previous fund-raise (last year)Rs.4,253Crs
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