IRB Infra has received NOC from NHAI for transfer of nine of its BOT assets to IRB Infrastructure Trust (Private InvIT) and subsequent investment by GIC affiliates for 49% stake in the this Trust. IRB Infra retains 51% of controlling stake. 98% of lenders have approved their NOCs supporting the deal. The Portfolio spans across 1,200 kms in Haryana, Uttar Pradesh, Rajasthan, Gujarat, Maharashtra and Karnataka.
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The Investment proceeds from the deal will be used for deleveraging of the Portfolio and Equity funding for under construction projects of the portfolio