Resolüt Partners: Advises IRB on ₹2,744 Cr Road Asset Sale to InvIT

• IRB Infrastructure Trust sold two road projects, CG Tollway Limited and Solapur Yedeshi Tollway Limited, to IRB InvIT Fund.
• The transaction was valued at an equity consideration of approximately ₹2,744 crore.
• Resolüt Partners advised IRB Infrastructure Trust on the sale, with a team led by Managing Partner Ruchir Sinha.
• The assets include concessions for a ~125 km stretch of NH-79 in Rajasthan and a 98.7 km stretch of NH-211 in Maharashtra.
• This deal underscores the growing trend of infrastructure asset monetization through InvITs in India.

This transaction highlights Resolüt Partners' expertise in advising on significant infrastructure asset sales involving InvITs in India.

IRB Infrastructure Trust has successfully divested two significant road projects, CG Tollway Limited and Solapur Yedeshi Tollway Limited, to the IRB InvIT Fund. This substantial transaction was valued at an equity consideration of approximately ₹2,744 crore, marking a notable event in India's infrastructure sector.

Resolüt Partners provided comprehensive legal counsel to IRB Infrastructure Trust throughout the entire process of this complex sale. The firm's involvement underscores the specialized legal expertise required for large-scale infrastructure asset transfers, particularly those involving InvIT structures which are increasingly prevalent in the Indian market.

The two road projects at the heart of this deal represent critical stretches within India's national highway network. CG Tollway Limited holds the concession rights for a roughly 125-kilometer segment of National Highway 79 (NH-79) in Rajasthan. This particular stretch connects key cities along the Kishangarh-Udaipur-Ahmedabad corridor, facilitating crucial inter-state movement.

Similarly, Solapur Yedeshi Tollway Limited manages a 98.7-kilometer concession on National Highway 211 (NH-211) in Maharashtra. This vital section links Solapur and Yedeshi, contributing significantly to regional connectivity and economic activity. The sale of these NH-79 and NH-211 concession assets highlights the ongoing monetization and strategic realignment within the country's road infrastructure landscape.

Resolüt Partners played a pivotal role in advising IRB Infrastructure Trust on this intricate transaction. The legal team, instrumental in navigating the complexities of the deal, was led by Managing Partner Ruchir Sinha. He was supported by Partner Shreyas Bhushan, Senior Associate Shivam Yadav, and Associates Sammahith Addoor and Agrim Mor.

This transaction highlights Resolüt Partners' expertise in advising on significant infrastructure asset sales involving InvITs in India. The successful conclusion of the CG Tollway and Solapur Yedeshi sale further solidifies the firm's reputation in providing India infrastructure M&A legal advice, particularly for high-value road projects and other infrastructure deals.

The ~₹2,744 crore road projects India deal between IRB Infrastructure Trust and IRB InvIT Fund serves as a significant benchmark for future M&A activity within the nation's infrastructure domain. Such transactions are indicative of the growing maturity of the InvIT model as a preferred mechanism for asset monetization and capital recycling in the sector.

This IRB Infrastructure Trust InvIT Fund deal not only demonstrates the continued investor appetite for operational road assets but also sets a precedent for the valuation and structuring of similar concession sales. For legal professionals and compliance officers, this transaction offers valuable insights into the evolving regulatory and commercial landscape governing infrastructure M&A in India, reinforcing the importance of specialized legal guidance in these complex financial undertakings.

This transaction highlights Resolüt Partners' expertise in advising on significant infrastructure asset sales involving InvITs in India. Lawyers and compliance officers tracking the Indian infrastructure sector should note this deal as a precedent for M&A activity in road concessions and a benchmark for firms active in this complex area.

Source: Original reporting via Bar & Bench