IRB Infrastructure Developers Ltd. has successfully transferred its VM7 Expressway Private Limited (Gandeva Ena HAM project) to the IRB InvIT Fund. The transfer was completed for an aggregate purchase consideration of ₹513 crore. This move will reduce the company’s consolidated debt by approximately ₹700 crore and allows IRB to pursue future growth opportunities. The announcement was made on February 2, 2026.
VM7 Expressway Transfer Completed
IRB Infrastructure Developers Ltd. has completed the transfer of its Gandeva Ena (VM7) HAM project to the IRB InvIT Fund. The company received a cash consideration of ₹513 Crore towards its equity in the VM7 Project SPV.
Debt Reduction and Future Growth
According to Mr. Virendra D. Mhaiskar, Chairman & Managing Director of IRB Infrastructure, this transaction reinforces their Bid-Execute-Stabilize–Transfer strategy. He added, “With this transfer of asset, the consolidated debt of the company will be reduced by approximately ₹700 Crs thereby strengthening overall liquidity.” The proceeds will facilitate IRB to pursue future growth opportunities.
Project Details
The Gandeva Ena HAM Project is an eight-laning revenue-generating stretch on the upcoming New Delhi Mumbai Greenfield Expressway Project in Gujarat. The project is managed by VM7 Expressway Private Limited under a concession awarded by the National Highways Authority of India.
Company Portfolio
IRB Group’s portfolio includes 28 highways with approximately 17,500 operational lane kilometers and an asset base of approximately ₹94,000Crs spread across 13 Indian States.
Market Position
IRB Group holds a significant market share of 44% in the awarded TOT space, through 6 TOT Assets. Its portfolio also comprises approximately 16% share in India’s prestigious Golden Quadrilateral connectivity and 12% share in the North-South highway connectivity.
Toll Revenue
With around 1.5 million vehicles moving daily across its highway assets, the Group contributes about 10% to the National Toll Revenue.
Source: BSE
