Life Insurance Corporation of India (LIC) has raised stake in IRB Infrastructure Developers (IRB) from 3.81% in quarter ended June 2020, to 5.27% in quarter ended September 2020. IRB Infra is the largest highway developer in the private sector with an asset base of Rs 45,000 crore and two InvITs. It has constructed over 12,300 lane kilometres (kms) across the country in the past two decades.
Recently, IRB began to collect toll from the Yedeshi-Aurangabad BOT project. Earlier, it had completed the VM7 Expressway, a wholly-owned subsidiary of IRB. The project is part of the eight-lane access controlled expressway from km 190 to km 217.5 of the Vadodara-Mumbai Expressway from Gandeva to Ena section in Gujarat.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
