Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) listed IRB Infrastructure Developers Ltd. (IRB) is India's leading and largest highway infrastructure developers, with an asset base of over Rs. 45,000 Crs. As per data available on BSE, Life Insurance Corporation of India has raised stake in IRB from 3.81% in the quarter ended June 2020, to 5.27% in the quarter ended September 2020. Recently, the company had announced that Yedeshi Aurangabad BOT Project implemented by Yedeshi Aurangabad Tollway Limited which is now part of IRB Infrastructure Trust - Private InvIT had been issued a Completion Certificate by the Competent Authority. Consequently, the SPY would collect toll at full toll rates on this project. Earlier, the company had also announced that VM7 Expressway Private Limited - Wholly-owned Subsidiary of the Company had executed a Concession Agreement with the National highways Authority of India (NHAI) for the project of Eight lane access controlled Expressway from Km 190.000 to Km 217.500 of Vadodara Mumbai Expressway (Gandeva to Ena Section) in the State of Gujarat under Bharatmala Pariyojana (Phase I - Package VII). IRB Infra had recently bagged India's largest TOT (toll operate transfer) project Mumbai-Pune Expressway of Rs. 8,262 crore, and has already paid the first tranche of Rs. 6,500 crore as an upfront sub-concession fee to Maharashtra State Road Development Corporation Ltd. Shares of IRB infrastructure developers ltd was on Friday closed in NSE at Rs.115.00 as compared to the previous close of Rs. 116.95.
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