IRB Infrastructure Developers has received board approval to transfer three Build-Operate-Transfer (BOT)

Highway assets—IRB Hapur Moradabad Tollway, Kaithal Tollway, and Kishangarh Gulabpura Tollway—to the IRB InvIT Fund. These assets, currently under the IRB Infrastructure Trust, have a combined enterprise value of ₹28,450 crore, as per the company’s stock exchange filing. A binding term sheet was signed following a non-binding offer on May 8, 2025. Chairman and MD Virendra D Mhaiskar stated that the deal proceeds will enable the company and IRB Trust to pursue future infrastructure opportunities nearly double the size of the assets transferred. This move aligns with IRB’s strategy to expand its asset base to ₹1,40,000 crore in the next three years. IRB, India’s first integrated highway infrastructure player, currently operates projects worth over ₹80,000 crore across 12 states. The transaction marks a significant step toward capital recycling and funding future road development initiatives.