IRB InvIT Opens QIP To Raise Rs 3,000 Crore, Sets Floor Price At Rs 62.69 Per Unit

Infrastructure investment trust IRB InvIT has opened its qualified institutional placement to raise Rs 3,000 crore, with an option to upsize the issue by another Rs 250 crore, people familiar with the matter told NDTV Profit.

The indicative offer price is set at Rs 60 per unit, implying a 2.8% discount to the stock's closing market price of Rs 61.65. The floor price for the same has been set at Rs 62.69 per unit, as per an exchange filing.

The issue is being managed by Motilal Oswal Investment Advisors, CLSA India, and Kotak Mahindra Capital Company, who are acting as the book-running lead managers for the transaction.

In July this year, IRB Infrastructure Developers Ltd–sponsored IRB InvIT Fund secured unitholder approval to acquire 100% equity in three special purpose vehicles operating DBFOT (Design, Build, Finance, Operate, and Toll) road projects. These assets are currently owned by the Sponsor's private InvIT, IRB Infrastructure Trust. The transaction is based on an enterprise value of Rs 8,436 crore as of June 30, 2025.

Unitholders also approved the appointment of the Sponsor as the project manager for the operations and maintenance of the acquired assets, with the resolution receiving 96% majority approval.

"We are truly grateful to all unitholders for their strong trust and confidence in the Fund's growth strategy," said Virendra D Mhaiskar, Chairman and Managing Director of the Sponsor. "We remain committed to enhancing unitholder value by continuously seeking quality asset additions."

The proposed acquisitions, subject to regulatory approvals and compliance, are expected to expand the Sponsor's O&M order book by around Rs 3,100 crore.

Earlier, the company had signed definitive agreements to acquire a 100% stake in three road project SPVs from IRB Infrastructure Trust (Private InvIT) in a deal involving Rs 4,905 crore in equity value, with the minimum enterprise value of the assets pegged at Rs 8,436 crore.