Trilegal acted as legal counsel to IRB InvIT Fund ("Trust") and IRB Infrastructure Private Limited ("Investment Manager") as to Indian law in relation to the largest qualified institution's placement ("QIP") of units by an InvIT, in YTD Fiscal 2026, aggregating to Rs 32,484.30 million.
IRB InvIT Fund, India’s first publicly listed infrastructure investment trust under the SEBI (Infrastructure Investment Trusts) Regulations, 2014, undertook an institutional placement of 541,405,000 units at Rs 60 per unit, representing a 4.29 per cent discount to the floor price of Rs 62.69 per unit, aggregating to Rs 32,484.30 million.
As of June 30, 2025, the Trust operated and maintained 2,421 lane kilometers across a portfolio of six operational projects which includes five (5) Build-Operate-Transfer road infrastructure assets and one (1) Hybrid Annuity Mode road infrastructure asset, across the high growth western and southern belt of India in the states of Punjab, Karnataka, Rajasthan, Tamil Nadu, Maharashtra, and Gujarat offering a mix of fixed and variable revenue-generating assets.
The proceeds of the QIP are to be used, for part funding of consideration for acquisition of the Target SPVs from IRB Infrastructure Trust ("Private Trust"), including by way of shareholder loans to Target SPVs for repayment/prepayment, in full or part, of the outstanding subordinated debt and unsecured loans availed by the Target SPVs and other general corporate purposes.
The Trilegal Capital Markets team advising on the matter was led by Partner: Abhinav Maker; and supported by Associate: Mrinal Kumar, Kalyan Reddy, Varda Saxena and K. Prashant Agrawal; and Trainee Associate - Revant Gupta. |
