IRB Infrastructure Developers, India’s largest integrated private toll roads and highways infrastructure developer, has closed its IRB Infrastructure Trust at INR 381.63 crore ($50.3 million).
IRB Infrastructure Trust is a private InvIT jointly launched by the company (51 percent stake) and Singapore-based GIC Affiliates (49 percent stake).
With a total investment capacity of INR 194.63 crore ($25.7 million), the capital will be put toward funding projects under construction.
“We are very happy to announce our investment in the trust on the 23rd Foundation Day of IRB Infra, which has relentlessly worked for India’s highways infrastructure development sector over all these years and delivered world class highways infrastructure across all geographical terrains of the nation,” said Virendra Mhaiskar, chairman and managing director of IRB. “We express our continued commitment towards the same in years to come.”
IRB has an asset base of more than
