1 hr ago
IRB Infra Transfers Two Toll Roads for Rs 2,744 Crore
IRB Infrastructure Developers plans to sell two highway companies to an infrastructure investment trust.
The companies operate toll roads in Maharashtra and Rajasthan.
One road runs between Solapur and Yedeshi.
The other covers a section between Kishangarh, Udaipur and Ahmedabad.
The two companies are valued at Rs 2,744 crore based on their equity value.
The buyer will pay the full amount in cash.
Because both sides have the same sponsor, the deal is treated as a related-party transaction.
IRB says the transaction is being conducted on an arm’s length basis and could close by September 30, 2026.
IRB Infrastructure Developers agreed to transfer Solapur Yedeshi Tollway Limited and CG Tollway Limited to IRB InvIT Fund.
The transaction has an aggregate equity value of Rs 2,744 crore and will be paid entirely in cash.
The two assets operate toll concessions covering 98.7 km in Maharashtra and roughly 125 km in Rajasthan.
The deal is a related-party transaction because both parties share IRB Infrastructure Developers as sponsor; the company says it is arm’s length.
Closing is targeted for September 30, 2026, with a long-stop date of December 31, 2026, subject to possible extension.
- Who
- IRB Infrastructure Developers, IRB Infrastructure Trust, and IRB InvIT Fund.
- What
- Transfer of two toll-road subsidiaries for an aggregate equity value of Rs 2,744 crore.
- Where
- The assets are located in Maharashtra and Rajasthan, India.
- When
- The indicative closing date is September 30, 2026, with a long-stop date of December 31, 2026.
- Why
- The transfer advances IRB’s InvIT monetisation and asset-churn strategy.
Transaction rationale
Transaction considerations
Related-party structure
Transaction rationale
IRB Infrastructure Developers says the transfer is being conducted on an arm’s length basis.
Transaction considerations
The buyer and seller share a common sponsor, so the transaction is subject to related-party rules and required unitholder approval.
Asset monetisation
Transaction rationale
The deal supports IRB’s stated cash-harvesting phase, InvIT monetisation strategy, and asset-churn plans.
Transaction considerations
The transfer involves toll-road assets that contributed about Rs 306.59 crore, or 3.5%, of the Trust’s consolidated turnover in FY26.
Key facts
- Buyer
- IRB InvIT Fund
- Assets transferred
- Solapur Yedeshi Tollway Limited and CG Tollway Limited
- Equity value
- Rs 2,744 crore
- Enterprise value
- Rs 4,605 crore as of the stated September 30, 2026 reference date; an earlier March 31, 2026 figure was reported at roughly Rs 4,663 crore
- Payment
- Entirely in cash
- Closing timeline
- Indicative closing on September 30, 2026; long-stop date of December 31, 2026
- Unitholder approval
- IRB Infrastructure Trust unitholders approved the transfer on July 16, 2026
Sources
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