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IRB InvIT Fund (the Trust) is an irrevocable trust set up under the Indian Trusts Act, 1882, and registered with the Securities and Exchange Board of India as an infrastructure investment trust under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.IRB InvIT is a registered infrastructure investment trust under the InvIT Regulations. The Trust primarily intends to own, operate and maintain a portfolio of six toll-road assets in the Indian states of Maharashtra, Gujarat, Rajasthan, Karnataka and Tamil Nadu. These toll roads are operated and maintained pursuant to concessions granted by the NHAI. It is the first listed infrastructure investment trust focused on toll-road assets in India.The Sponsor of the Trust is IRB Infrastructure Developers Limited, one of the largest infrastructure development and construction companies in India in terms of net worth in the roads and highways sector according to the NHAIs annual prequalification for public private partnerships in national highway projects report for 2016. The Sponsor has been listed on the Stock Exchanges since 2008. Excluding the toll-road assets that are being transferred by the Sponsor to the Trust pursuant to the Formation Transactions, as of December 31, 2016, the Sponsor had 16 road projects, of which eight were operational, five were under construction and three were under development.