IRB Infrastructure Approves Sale of Gandeva–Ena HAM Project to IRB InvIT for Rs 513 Cr

IRB Infrastructure Developers Ltd., India’s largest multinational transport infrastructure developer, has approved the sale of its Gandeva–Ena (VM7) HAM project, part of the Delhi–Mumbai Greenfield Expressway, to the IRB InvIT Fund.

The publicly listed IRB InvIT Fund, sponsored by IRB, will acquire the project for Rs 513 crore as full equity consideration. Upon completion of the transfer, the entire project debt will also move to the InvIT, resulting in a significant improvement in IRB’s consolidated net debt-to-equity ratio.

IRB Infrastructure will continue its involvement with the asset by serving as the Project Manager for the VM7 project after the transfer to the Public InvIT.

The move aligns with IRB’s strategy to recycle capital, strengthen the balance sheet, and channel resources into its growing expressway development portfolio.

Virendra D. Mhaiskar, Chairman & Managing Director of the Company said, “This step reinforces our Bid–Execute–Stabilize–Transfer strategy. Upon completion, the transaction will deliver a win-win outcome ensuring long-term cash flow stability and enhancing payouts for the IRB InvIT Fund, while bolstering IRB Infra’s capability to pursue future growth opportunities.”