IRB InvIT Fund launches ₹3,000-crore QIP; sets indicative price at ₹60 per unit

IRB InvIT Fund on Wednesday (October 8) has launched a Qualified Institutions Placement (QIP) to raise ₹3,000 crore, with an additional upsize option of ₹250 crore.

The QIP also includes an upsize option, taking the potential total fundraise to ₹3,250 crore if fully exercised. The indicative offer price has been set at ₹60 per unit, reflecting a 2.8% discount to the last closing price.

In July this year, IRB Infrastructure Developers Ltd-sponsored IRB InvIT Fund received unitholder approval to acquire 100% equity in three special purpose vehicles (SPVs) operating DBFOT (Design, Build, Finance, Operate, and Toll) road projects.

Also Read: IRB Infra MD explains rationale behind non-binding offer to IRB InvIT Fund for five toll assets

These assets are currently held by the Sponsor's private InvIT, IRB Infrastructure Trust. The deal is based on an enterprise value of ₹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 (O&M) of the acquired assets. The resolution was passed with a 96% majority.

"We are truly grateful to all unitholders for their strong trust and confidence in the Fund's growth strategy," said Virendra D Mhaiskar, Chairman & 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 approximately ₹3,100 crore.

Also Read: IRB Infrastructure to transfer ₹8,450 crore highway assets to invIT arm by Q2 FY26

Shares of IRB InvIT Fund ended at ₹61.64, down by ₹0.53, or 0.85%, on the BSE.