Irb Invit

IRB Infra Trust makes non-binding offer to IRB InvIT Fund for 5 toll assets

IRB Infrastructure Trust has made a non biding offer to IRB InvIT Fund to transfer five toll assets having an enterprise value of Rs 15,000 crore as of September 2024, according to an exchange filing on Thursday. In a statement, IRB said it plans to re-invest the proceeds raised from the deal in upcoming opportunities in the infrastructure sector. IRB Infrastructure Trust is IRB Infrastructure and Developers' private InvIT (infrastructure investment trust) with 51 per cent stakeholding, while IRB InvIT Fund is a publicly listed InvIT platform in which the infrastructure player has a 15 per cent share. "IRB Infrastructure Trust, an associate, has announced a non-binding offer to transfer five matured highway assets to the IRB InvIT Fund," IRB Infrastructure Developers Ltd (IRB) said in a statement. The proposed transfer is subject to execution of definitive documents and the receipt of necessary approvals, the company said. IRB along with the associate operates 17 toll assets. In .

IRB InVIT to raise Rs 2,667 crore via term loans to refinance existing debt

Post refinancing, roads SPVs to be free of external debt

IRB Infra Trust completes refinancing of 5 BOT projects for Rs 6,400 cr

IRB Infrastructure Trust, the private InvIT of IRB, has completed the refinancing of five BOT projects for about Rs 6,400 crore located in three states. Of the 5 build-operate-transfer (BOT) projects, 2 each are located in Maharashtra and Uttar Pradesh, while 1 is in Rajasthan. "IRB Infrastructure Trust (Private InvIT) has successfully completed the refinancing exercise for its five BOT Assets for around Rs 6,400 crore," IRB said in a statement. The new interest rate will be 8.6 per cent against 9.7 per cent earlier and help save the company Rs 1,000 crore over the next 5 years, it said. Virendra D Mhaiskar, Chairman and Managing Director, IRB Infrastructure Developers Ltd, said, "Five of the operational BOT Assets under our private InvIT have successfully completed the re-financing exercise, with debt moving to the InvIT level. This will not only bring down our interest cost, reduce the amortisation in initial years, but also improve the tax efficiency of the portfolio". IRB ...

IRB Infra InvIT completes second fund raising round by securing Rs 510 cr

IRB will continue to hold 51% and GIC affiliates will continue to hold a 49% stake in the IRB Infrastructure Trust

IRB InvIT distributed Rs 90 cr cashflow to unit holders

In its first, IRB Infrastructure Investment Trust (InvIT) on Monday declared a Rs 90 crore worth distribution of cashflow to its unit holders."We are happy to announce the first distribution to the unit holders of Rs. 1.55 per unit. This translates into annualized payout is 12.6%, which is in line with our expectations. We would endeavor to make distribution every quarter as against the minimum stipulation of half yearly distribution," the company said in its statement on Monday.IRB InvIT also declared its results on Monday. The Trust reported a revenue of Rs151 crore and earning before interest, tax, depreciation and ammortisation or Ebitda of Rs123 crore and a distributable cash flow of Rs96 crore.IRB Invit is India's first infrastructure investment trust. The Trust, owns, operates and maintains a portfolio of six toll road concessions with an aggregate value of Rs. 5921 crore, in Maharashtra, Gujarat, Rajasthan, Karnataka and Tamil Nadu.The sponsors for the Trust, IRB ...