IRB InvIT Fund to acquire Vadodara Kim 8 Lane Expressway

road project
IRB InvIT Fund is set to acquire Vadodara Kim Expressway HAM project in Gujarat from its Sponsors IRB Infrastructure Developers Limited at an enterprise value of ₹1,297 crores and equity value of ₹342 crores.

The Unitholders of the InvIT, including Institutional Investors, have given their nod to acquire the Asset with a substantial majority of 99.99%. Out of the 25,37,38,305 units polled, 25,37,00,492 units voted in favour of the resolution while 37,813 units voted against the resolution.

To re-iterate, Vadodara - Kim HAM project is a 23.740 Kms stretch on the upcoming Delhi Mumbai 8 Lane greenfield expressway with the concession period of 15 years. After the acquisition is completed, the InvIT will have six operational and revenue generating Assets in its portfolio.