IRB Infra to Act as Project Manager for InvIT Fund Projects

IRB Infrastructure Developers Ltd's Board approved entering into Project Implementation Agreements (PIAs) with IRB InvIT Fund and its project SPVs, Solapur Yedeshi Tollway Limited (SYTL) and CG Tollway Limited (CGTL). The company will act as the Project Manager for these SPVs, managing projects valued at approximately ₹2,663 crore on a fixed price basis over the remaining concession period of about 18 years. This appointment is contingent upon the transfer of 100% equity share capital of the Project SPVs from IRB Infrastructure Trust to the Public InvIT. The agreement is not considered a related party transaction under SEBI regulations.