Trilegal, JSA, Linklaters and Resolüt Partners advised on IRB InvIT Fund’s institutional placement of units aggregating to INR 32,484.30 million (~USD 370 million).

This was the largest institutional placement of Units by a publicly listed InvIT in India aggregating to INR 32,484.30 million. The InvIT is sponsored by IRB Infrastructure Developers Limited.

Kotak Mahindra Capital Company Limited, CLSA India Private Limited and Motilal Oswal Investment Advisors Limited acted as the lead managers to the transaction.

The proceeds of the QIP are to be used, for part funding of consideration for acquisition of the Target SPVs from IRB Infrastructure Trust (“Private Trust”), including by way of shareholder loans to Target SPVs for repayment/prepayment, in full or part, of the outstanding subordinated debt and unsecured loans availed by the Target SPVs and other general corporate purposes.

Trilegal acted as legal counsel to IRB InvIT Fund (“Trust”) and IRB Infrastructure Private Limited (“Investment Manager”) as to Indian law in relation to the largest qualified institution’s placement (“QIP”) of units by an InvIT, in YTD Fiscal 2026, aggregating to INR 32,484.30 million. The Trilegal Capital Markets team advising on the matter was led by Partner Abhinav Maker; and supported by Associates Mrinal Kumar, Kalyan Reddy, Varda Saxena and K. Prashant Agrawal; and Trainee Associate Revant Gupta.

JSA advised the lead managers in the institutional placement of Units of IRB InvIT Fund (“InvIT”), which is India’s first InvIT. The transaction team comprised Lead Partner Arka Mookerjee, Partner Pracheta Bhattacharya, Principal Associates Sourav Modi and Ananth Balaji, and Associates Jeebitesh Bhattacharya, Bhavna Sancheti, Aditya Shendye, Palak Karundia and Ayushi Pandi.

Linklaters also advised the lead managers on this transaction.

Resolüt advised GIC Singapore on its investment in the institutional placement of units by IRB InvIT Fund. This is one of the largest institutional placements of units by a publicly listed InvIT in India aggregating to ~USD 370mn (INR 3,248 cr). The team comprised Ruchir Sinha, Shreyas Bhushan, Shivam Yadav, Samaahith Addoor, and Agrim Mor.