IRB Infra gets NOC from NHAI for transfer of 9 BOT assets

IRB Infrastructure Developers on Sunday said it has received a no objection certificate from the NHAI for transfer of nine BOT (build-operate-transfer) assets to IRB Infrastructure Trust and subsequent investment by GIC affiliates for 49 per cent stake in the Trust.

In a filing to the BSE, the company said it has "received NOC from NHAI for transfer of nine of IRB Infrastructure Developers Ltd BOT assets to IRB Infrastructure Trust..."
The Investment proceeds from the deal will be used for part deleveraging of the portfolio and equity funding for under construction projects of the portfolio