IRB InvIT Fund Appoints Sponsor as Project Manager for SPVs

IRB InvIT Fund has executed project implementation agreements with its Sponsor, IRB Infrastructure Developers Limited, appointing them as the Project Manager for the acquired entities, Solapur Yedeshi Tollway Limited (SYTL) and CG Tollway Limited (CGTL). These SPVs are involved in significant road development projects in Maharashtra and Rajasthan. The transaction, including shareholder loan and facility agreements, is considered a related party transaction but is conducted at arm's length. This move formalizes the operational management structure for these key infrastructure assets.