Trilegal has advised IRB InvIT Fund and its investment manager IRB Infrastructure on its INR 3248 crore qualified institutions placement (QIP), the largest InvIT fundraise in FY 2026 so far.
The QIP involved the issuance of 541.4 million units, priced at INR 60 per unit, representing a 4.29 percent discount to the SEBI-prescribed floor price of INR 62.69 per unit.
The placement received strong participation from domestic and global institutional investors, including Anahera Investment, Kotak Mahindra Bank, and CIM Investment Fund ICAV, each holding over 5 percent stake following the allotment.
IRB InvIT Fund, India’s first publicly listed Infrastructure Investment Trust (InvIT) under the SEBI InvIT Regulations, raised INR 3,248.43 crore through an institutional placement of units. This marks the InvIT’s first equity fundraising since its listing in 2017.
The Trust operates 2,421 lane kilometers across six projects in Punjab, Karnataka, Rajasthan, Tamil Nadu, Maharashtra, and Gujarat, a portfolio spanning India’s high-growth western and southern corridors with a mix of fixed and variable revenue assets.
Trilegal’s capital markets team was led by partner Abhinav Maker, supported by associates Mrinal Kumar, D. Kalyan Reddy, Varda Saxena and K. Prashant Agrawal, and trainee associate Revant Gupta.
