IRB Infrastructure Developers has executed a share purchase agreement and other ancillary agreements for the transfer of Vadodara Kim Expressway Project (VK1 Project) to IRB InvIT Fund (Trust), a publicly offered and listed InvIT sponsored by the Company.
On completion of this transaction, the Company will receive Rs. 342 crore as against sponsor contribution and debt of Rs. 955 crore will reduce from the consolidated debt of IRB.
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