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IRB Infrastructure Developers surged nearly 4% after its private InvIT, IRB Infrastructure Trust won a ₹9,240 crore project from the National Highways Authority of India (NHAI).
IRB Infrastructure Developers is an integrated multi-national transport infrastructure developer in roads and highways segment.
A private InvIT is a fund created to own and operate infrastructure projects, letting investors earn income from assets like toll roads.
What’s the deal: the project covers a long 366-km stretch of highways in Uttar Pradesh, including parts of the Lucknow-Ayodhya-Gorakhpur and Lucknow-Varanasi routes.
The company will handle toll collection, day-to-day operation, and maintenance of these highway sections for the next 20 years, after which the roads will be handed back to the government.
In short, they get the right to run and maintain these busy highways and collect tolls in return.
