IRB Infra transfers Gandeva Ena HAM project SPV to IRB InvIT Fund for Rs 513 Cr
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IRB Infrastructure Developers has completed the transfer of its wholly-owned subsidiary VM7 Expressway Private Limited, which holds the Gandeva Ena HAM project (eight-laning highway stretch on the Delhi-Mumbai Greenfield Expressway in Gujarat under NHAI Package-VII), to IRB InvIT Fund. The company received Rs 513 crore as equity consideration. The transfer will reduce consolidated debt by around Rs 700 crore, improving liquidity. This is part of IRB's Bid-Execute-Stabilize-Transfer capital recycling strategy to monetize matured assets and fund new growth.
Strengthens balance sheet with Rs 513 Cr cash inflow and Rs 700 Cr debt reduction. Supports future growth and validates IRB's asset recycling model.