By Admin 
IRB infrastructure: The IRB Infrastructure and Developers Board on Friday approved the transfer of three BOT (build-operate-transfer) highway assets of the IRB Infrastructure Trust to the Public Infrastructure Investigation Trust (Invit).
IRB Infrastructure and Developers said in the exchange filing that these are the three BOT assets-IRB Hapur Hapur Moradabad Tolway, Kaithal Tolway and Kishangarh Gulabpura tollway. The 100 percent equity of these assets is to be done for Rs 8,450 crore. While the equity value of this deal is about Rs 4,905 crore. For this, the binding has also been signed on the term sheet. These three assets are spread over about 1,800 lane kilometers.
The amount raised will be used in this work
The amount raised from this transaction will be used for funding the new road infrastructure projects worth Rs 15,000 crore. The move is part of the Asset Churn Strategy of IRB Group, which is aimed at recycling the capital for growth. The money that the IRB Infrastructure and Developers Board will get from the deal with the deal on three highway assets will increase from 80,000 crores to Rs 1,40,000 crore in the next three years.
According to the CNBC report, the company’s chairman and managing director Virendra D. Mhaskar has said, “The company and the IRB Infrastructure Trust can avail the earnings from this deal for funding many other sectors in the coming time, which is almost double the size of the transferred assets. In addition, this expansion of the portfolio of IRB Invit Fund has to increase its average life with BOT highway assets with more revenue.
Company share performance
Explain that especially, the shares of this company investing in road and highway projects in India under the BOT model closed on BSE at Rs 0.19 or 0.37 percent on 51.26 on BSE on Friday at 51.26. The BOT model means that the road or highway that the company makes is run for some time and then hands it over to the government.
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