The board of IRB InvIT Fund approved at its meeting held on 15 May 2026 to continue acting as Project Manager for the project SPVs of IRB InvIT Fund under the SEBI (Infrastructure Investment Trusts) Regulations, 2014. According to reports from Business Standard, the approval covers IRB Jaipur Deoli Tollway, IRB Pathankot Amritsar Toll Road and IRB Talegaon Amravati Tollway, collectively referred to as Project SPVs. However, as per latest reports, the new agreements are pending regulatory approvals before formal execution can proceed.
The approved management will commence from 01 April 2030 until the end of the concession period of respective Project SPVs. As reported by Business Standard, the scope includes providing operation and maintenance works to each of the three tollway projects in connection with implementation of their respective projects under the Public InvIT framework. The renewal ensures the continued operational efficiency and management of IRB InvIT's toll road assets by its established sponsor, providing crucial clarity on future O&M service providers for an infrastructure investment trust that depends on stable asset performance.
The board approved amended and restated project implementation agreements to be executed with each Project SPV for an approximate aggregate value of ₹1,136 crore on a fixed price basis. According to Business Standard, the total contract value including applicable taxes and GST reaches approximately ₹1,340 crore including GST at 18%. The agreements cover such other terms and conditions as may be agreed among the parties, with the transaction being contingent upon obtaining necessary regulatory approvals.
This renewal emphasizes the trust's reliance on its sponsor's expertise for asset upkeep and performance, with IRB Infrastructure Developers Ltd having a long history of managing the operational aspects of the InvIT's road portfolio. As reported by Business Standard, other infrastructure investment trusts such as IndiGrid and Bharat Highways InvIT also utilize structured management and operational agreements with their sponsors to ensure efficient asset maintenance and revenue generation. The formal execution of the amended agreements remains a key development, with investors watching for confirmation of all required regulatory approvals and specific timelines from regulatory bodies.
