IRB Infrastructure Developers will hold a meeting of the Board of Directors of the Company on 7 May 2024.Powered by Capital Market - Live News

IRB Infrastructure Developers has cancelled the board meeting which was scheduled to be held on 4 April 2024.Powered by Capital Market - Live News

IRB Infrastructure Developers will hold a meeting of the Board of Directors of the Company on 4 April 2024.Powered by Capital Market - Live News

Cintra, a subsidiary of Ferrovial, has entered into definitive documents to acquire 24% stake in IRB Infrastructure Trust as well as 24% stake in MMK Toll Road (MMK) which is the Investment Manager of the Trust. Completion of the acquisition is subject to fulfilment of conditions precedent, including receipt of requisite regulatory and third-party approvals. With an objective of harnessing the potential of India`s infrastructure landscape, the Trust has distinct ability to leverage synergies among the leading Indian transport infrastructure developer, a global financial investor, and a global strategic partner to optimize project planning and selection processes, ensuring maximum impact and value creation. IRB, with a diverse variety of investors, is uniquely positioned to expand its asset base, already one of the key players in the sector, and drive sustainable growth and development across the nation. The company will also benefit from the growing EPC and O&M order book as the sole project manager to the Trust. Powered by Capital Market - Live News

The Board of Directors of IRB Infrastructure Developers at its meeting held 13 March 2024, has taken note of the proposed participation by Cintra InvIT Investments B.V. and Cintra IM Investment B.V. (collectively �Cintra�) in IRB Infrastructure Trust (Private InvIT), the privately placed infrastructure investment trust road platform sponsored by the Company with investment from GIC, through a secondary transfer of unitholding in the Private InvIT and shareholding in MMK Toll Road, the investment manager of the InvIT, to the extent of approximately 24% of the units of the Private InvIT and approximately 24% of the shares of the Investment Manager on the terms agreed between GIC and Cintra (Proposed Transaction). In connection with the Proposed Transaction, the Board has approved amendments to the framework agreement and the shareholders agreement in relation to the Private InvIT and its Investment Manager, which will become effective upon the closing of the Proposed Transaction.It is clarified that the Company will continue to act as the sponsor and the project manager to the Private InvIT and will continue to hold approximately 51% of the units in the Private InvIT and approximately 51% of the equity share capital of the Investment Manager. Powered by Capital Market - Live News