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IRB Infrastructure Trust, the country's first listed Infrastructure Investment Trust, will transfer its three highway assets, having an enterprise value of around Rs 8,450 crore, to IRB InvIT Fund.

The share purchase agreement between the subsidiaries of infrastructure major IRB Infrastructure and Developers was executed on Friday.

The board of directors of IRB Infrastructure and Developers on Friday approved a proposal to transfer three road assets of IRB Infrastructure Trust to IRB InvIT Fund.

The BOT (Build-Operate-Transfer) highway assets - IRB Hapur Moradabad Tollway, Kaithal Tollway, and Kishangarh Gulabpura Tollway - have an enterprise of Rs 8,450 crore, IRB Infrastructure and Developers said in an exchange filing on late Friday night.

The transaction is expected to be completed by the second quarter of FY26.

IRB Infrastructure Trust is the private InvIT associate of IRB Infrastructure and Developers.

IRB InvIT Fund is a public InvIT arm sponsored by IRB Infrastructure and Developers.

"Further to the non-binding offer exchanged on 8th May 2025, IRB Infrastructure Trust and IRB InvIT Fund have now executed a binding term sheet to transfer three BOT Highway Assets from former to later," it said.

Virendra D Mhaiskar, Chairman and Managing Director of the company, said, "This is a remarkable feat, benefiting both InvITs and charting out their path to sustainable growth. The company and IRB Infrastructure Trust can leverage deal proceeds to fund future sector opportunities almost 2x the size of assets being transferred.

"Furthermore, this expansion in IRB InvIT Fund's portfolio enhances its weighted average life with the addition of high-revenue BOT highway assets." He further said this development propels the company towards its goal of achieving Rs 1,40,000 crore asset base in three years.

IRB Infrastructure Trust and the IRB InvIT Fund exchanged the non-binding offer on May 8, 2025, to transfer the three highway Assets admeasuring around 1,800 lane kilometres with an aggregate enterprise value of around Rs 8,450 crore and corresponding equity value of Rs 4,905 crore.

IRB is India's first integrated infrastructure player in the highways segment.

It is the country's largest integrated private toll roads and highways infrastructure developer with an asset base of over Rs 80,000 crore in 12 states.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)