Singapore’s sovereign wealth fund GIC will invest over $600 million for a 49 percent stake in a private Infrastructure Investment Trust controlled by IRB Infrastructure Developers headquartered in Mumbai. As part of the transaction, IRB will transfer nine of its Build-Operate-Transfer assets into the Investment Trust in which IRB will hold the controlling stake of 51 percent.
The portfolio traverses 745 miles in the states of Haryana, Uttar Pradesh, Rajasthan, Gujarat, Maharashtra and Karnataka. Three of these projects have recently become operational and the rest are under different phases of construction.
Five of the assets under construction are 4 to 6 lane highway projects. These projects are strategically located along economic corridors and across tourist hubs. IRB’s chairman and managing director Virendra Mhaiskar said, “IRB and GIC plan to also explore future road sector opportunities in India together through the private infrastructure investment trust.”
Last updated: December 26th, 2025
