India, Sept. 23 -- IRB Infrastructure Developers has followed through on a transaction that's been on the table since May. A share purchase agreement signed in late September lays out the terms for shifting two operating toll roads out of the company's private trust and into its publicly listed one, in a deal structured entirely in cash and valued in the thousands of crores. Regulatory sign-off is still pending, and closing is expected within days but what it does to each trust's cash flow profile is only starting to show.

Shares of IRB Infrastructure Developers Ltd are trading at Rs. 17.99, up 0.06 percent on Wednesday. The stock touched the intraday high of Rs. 18.66 after opening at Rs. 18.40 before slipping to a low of Rs. 17.51. Th...