IRB Infrastructure Developers Ltd acquires 24% stake in IRB Trust to strengthen transport infra development 

To harness the potential of India’s infra landscape, IRB Infrastructure Developers Limited has acquired the 24% stake in IRB Infrastructure Trust by Cintra, a subsidiary of Ferrovial, from GIC Affiliates. 

IRB Infrastructure is India’s first Integrated multi-national transport infrastructure developer in the roads & highways segment. The collaboration is aimed at bringing the synergies among the country’s transport infrastructure developer, a global financial investor, and a global strategic partner to optimise project planning along with maximising value creation.

“Cintra, a subsidiary of Ferrovial, has entered into definitive documents to acquire 24% from GIC affiliates in IRB Infrastructure Trust (“Trust”) as well as 24% stake in MMK Toll Road Private Limited (“MMK”) which is the Investment Manager of the Trust. Completion of the acquisition is subject to fulfilment of conditions precedent, including receipt of requisite regulatory and third-party approvals,’’ an official statement mentioned. 

Commenting on the collaboration, the CMD of IRB Infrastructure Developers Ltd, Virendra Mhaiskar said, this is a vindication of the value creation IRB has been able to do in the Trust. We are better poised to capture the growth opportunities emerging and we remain committed to creating and unlocking shareholder value.

Notably, IRB has a diverse variety of investors, which is uniquely positioned to expand its asset base, and drive sustainable growth across the nation. The company is already one of the key players in the sector, and will also benefit from the growing Engineering, Procurement & Construction (EPC) anf Operation & Maintenance (O&M) order book.

Driving sustainable infrastructure projects

This investment in the Trust complements and aligns better with the partnership entities. Further, the firms can leverage and complement strengths and expertise to capture the growing sustainable infrastructure industry.

“Each IRB and GIC, respectively, share the vision of delivering high-quality sustainable infrastructure projects that enhance connectivity, mobility, and economic growth in India. This investment in the Trust complements and aligns better our relationship. We’ll keep leveraging our complementary strengths and expertise to capture further value from the growth of IRB,” CEO of Cintra Andres Sacristan said. 

IRB Infrastructure Developers Ltd (IRB) is one of the largest integrated private toll roads and highways infrastructure developers in India. The company has an asset base of over Rs.77,000 crores in 12 states.