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IRB InvIT Fund to acquire Vadodara Kim 8 Lane Expressway

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IRB InvIT Fund to acquire Vadodara Kim 8 Lane Expressway

IRB Infrastructure Developers Limited’s Vadodara Kim Expressway HAM project in Gujarat will be purchased by IRB InvIT Fund for an enterprise value of 1,297 crores and an equity value of 342 crores.

A strong majority of 99.99% of the InvIT’s unitholders, including institutional investors, have approved the purchase of the asset. 25,37,00,492 of the 25,37,38,305 total votes cast were in favour of the motion, while 37,813 were against it.

Just to be clear, the 23.740 km Vadodara-Kim HAM project is a segment of the future Delhi-Mumbai 8 Lane Greenfield Expressway and has a 15 year concession duration. Six operational and profit-generating Assets will be included in the portfolio of the InvIT after the acquisition is finalised.

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