IRB Infra's $1,702 Cr. Strategy: Gandeva–Ena Heads to InvIT

IRB Infrastructure Developers has proposed transferring its Gandeva–Ena project, a key segment of the Delhi–Mumbai Greenfield Expressway, to the IRB InvIT Fund.

The 27.5 km, eight-lane stretch—valued at ₹1,702 crore—has received board approval for a preliminary non-binding offer. The move aligns with IRB’s “bid–execute–stabilize–transfer” strategy, aimed at unlocking capital and supporting future growth. “This step aligns with our bid–execute–stabilise–transfer strategy to unlock capital and drive growth,” said Virendra D. Mhaiskar, Chairman and MD of IRB Infrastructure.

A revenue-generating asset, the Gandeva–Ena project falls under the NHAI’s Bharatmala Pariyojana and is being developed by VM7 Expressway, an IRB subsidiary, under a concession from the National Highways Authority of India.

News by Rahul Yelligetti.