IRB Infrastructure Developers Limited confirms the execution of the Project Implementation Agreement (PIA) for the TOT-18 Project with its subsidiary, IRB Chandibhadra Tollway Private Limited (IRBCTPL). This move formalizes the Company’s role as the Project Manager for IRBCTPL, a Special Purpose Vehicle (SPV) of IRB Infrastructure Trust. This follows shareholder approval via postal ballot on March 23, 2026, regarding the related party transactions necessary for the project’s implementation.
Formalization of Project Management Role
IRB Infrastructure Developers Limited has officially announced the execution of the Project Implementation Agreement (PIA) pertaining to the TOT-18 Project. This critical agreement was signed with IRB Chandibhadra Tollway Private Limited (IRBCTPL), which is the wholly owned SPV of IRB Infrastructure Trust (the “Trust”).
Role and Regulatory Context
Under the terms of the PIA, IRB Infrastructure Developers Limited will serve as the Project Manager for IRBCTPL. This appointment is in strict pursuance of the necessary regulations governing Infrastructure Investment Trusts. The decision to proceed with this agreement was preceded by a disclosure on February 13, 2026, and subsequent approval from the shareholders via Postal Ballot conducted on March 23, 2026.
Confirmation of Execution Date
The Company confirmed that it has completed the necessary procedural steps and executed the Project Implementation Agreement with IRBCTPL concerning the implementation of the TOT-18 Project. The formal communication regarding this execution was authorized and digitally signed by Mehul Patel, Company Secretary, on March 24, 2026.
Source: BSE
