The Board of Directors of the Investment Manager of IRB InvIT Fund (the Trust) at its meeting held on May 31, 2024, has approved raising debt (via rupee term loan) of up to INR 27,350 by the Trust, interalia, primarily for full repayment of existing external Debt of the SPV (VK1 Expressway Limited), full repayment of existing external Debt of the InvIT and repayment of sub- debt. Subject to receipt of the necessary approvals, the Trust and the respective Project SPVs would enter into the agreements in relation to the proposed facility.