Institutional placement of 317,460,316 units at ₹63 raises ₹20,000 million; total fund-raise Rs.2,351Crs

IRB InvIT Fund has allotted 317,460,316 Units at ₹63/- per Unit, raising ₹ 20,000 million (Rs.2,000Crs) via institutional placement.

Tue 29 Sep 2026

Units Allotted

317,460,316 Units at ₹63/- per Unit

Gross Proceeds

₹20,000 million (Rs.2,000 Crs)

Total Fund-raise with Preferential Allotment

Rs.2,351 Crs

New Total Units Outstanding

1,653,060,316 Units

Use of Proceeds

Acquisition of two BOT highway assets (Solapur Yedeshi NH211 and Chittorgarh Gulabpura NH79) and general purposes

What happened

The committee of directors of IRB Infrastructure Private Limited, the Investment Manager, approved on September 29, 2026 the issue and allotment of 317,460,316 Units to eligible institutional investors at an Issue Price of ₹63/- per Unit, aggregating ₹ 20,000 million. The Issue opened on September 24, 2026 and closed on September 28, 2026.

Pricing

• The Issue Price includes a discount of ₹1.26/- per Unit, which is 1.96% of the Floor Price determined under SEBI InvIT Regulations and the Master Circular.

Effect on unit capital

• After the allotment, the unitholding capital of the Trust comprises 1,653,060,316 Units.
• New units enlarge the unit base, so each existing unitholder owns a smaller share of the Trust unless they participated.

Large allottees (over 5% of the Issue)

• Anahera Investment PTE LTD (FPI): 55,555,555 Units, 17.50% of the issue size
• Arvesta Financial Services Private Limited (NBFC): 39,682,540 Units, 12.50%
• Prazim Trading And Investment Company Private Limited (DII): 39,682,539 Units, 12.50%
• NPS TR A/C ICICI Pension Fund Scheme C (Tier I and Tier II): 1,98,41,269 Units, 6.25%
• NEO Alternatives Investment Trust – Neo Treasury Plus Fund (AIF): 19,047,619 Units, 6.00%
• HSBC Mutual Fund schemes: 1,73,80,952 Units, 5.47%

The wider fund-raise

Per the press release, the total fund-raise is Rs.2,351Crs: Qualified Institutional Placement of Rs.2,000 crore and Preferential Allotment of Rs.351 crore. The preferential allotment of Units worth Rs.351 crore was made on September 25, 2026 to sponsor IRB Infrastructure Developers Ltd, which the release says was done to maintain its approximately 16% stake in the Fund.

Use of proceeds

• To partly fund the acquisition of two BOT highway assets — Solapur Yedeshi NH211 in Maharashtra and Chittorgarh Gulabpura NH79 in Rajasthan — from IRB Infrastructure Trust, and for general purposes.
• Post-acquisition, the stated portfolio would be 11 operational highway assets (9 BOT + 2 HAM) with 5,314 Lane Kms and Enterprise Value of over Rs.20,000Crs, with a Weighted Average Concession Life of around 17 years.
• Currently the Public InvIT operates 9 highway assets (7 BOT and 2 HAM) with 4,170 Lane Kms and Enterprise Value of approx. Rs.17,900 Crs, with Weighted Average Life of 16 years plus.

How to read it

The management commentary frames the raise as supporting asset additions that could strengthen the portfolio and asset life. Investors may weigh the fresh capital and the planned acquisitions against the dilution from a larger unit base and the fact that the units were priced at a small discount to the Floor Price. The acquisition is described as proposed and subject to conditions precedent.

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