Acquisitions2 Jul 2026, 03:10 pm
IRB InvIT Fund Approves Acquisition of SYTL & CGTL for ₹2,744 Cr
AI Summary
IRB InvIT Fund's Board has approved the binding term sheet for acquiring Solapur Yedeshi Tollway Limited (SYTL) and CG Tollway Limited (CGTL) from IRB Infrastructure Trust. The acquisition involves 100% equity shares and shareholder loans, with an aggregate equity value of INR 2,744 crore as of September 30, 2026. The total enterprise value, including existing debt, is INR 4,605 crore. The fund also approved appointing IRB Infrastructure Developers as Project Manager and plans to raise up to INR 3,000 crore through various means. Unitholder approval is required for these transactions.
Key Highlights
- Acquisition of SYTL and CGTL approved for INR 2,744 crore equity value.
- Total enterprise value for acquired assets stands at INR 4,605 crore.
- Plan to raise up to INR 3,000 crore via institutional placement or debt.
- IRB Infrastructure Developers appointed as Project Manager.
- Unitholder approval is a key condition for the proposed transactions.
Price Impact
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