IRB Infrastructure sells ₹513 crore Gujarat highway project to its own InvIT

A ₹513 crore deal reshapes IRB’s financial future—selling assets but keeping control. How this move slashes debt and fuels growth.

, and Administrator

2025 December 2 . 10:01 AM

1 min read

In this image, we can see some buildings and roads.

IRB Infrastructure sells ₹513 crore Gujarat highway project to its own InvIT

IRB Infrastructure Developers Ltd has agreed to sell its Gandeva Ena hybrid annuity model (HAM) project for Rs 513 crore. The company’s board approved the deal, which involves transferring the asset to its own infrastructure investment trust (InvIT). The move is expected to improve the firm’s financial position by reducing debt.

The Gandeva Ena HAM Project covers an eight-lane stretch in Gujarat, forming part of NHAI’s Package-VII under the Bharatmala Pariyojana. It is already operational and generating revenue. IRB Infrastructure originally contributed this project to the IRB InvIT Fund in 2021, retaining ultimate ownership.

Under the new agreement, the company will receive Rs 513 crore as full equity consideration once the transfer completes. Alongside the sale, the project’s existing debt will also shift to the InvIT. Despite the transfer, IRB Infrastructure will continue managing the project as the designated project manager.

The transaction follows the company’s strategy of monetising operational assets to strengthen its balance sheet. Analysts note that the sale will lower IRB’s consolidated net debt-to-equity ratio, easing financial pressure.

The Rs 513 crore deal will provide IRB Infrastructure with immediate liquidity while maintaining its operational role in the project. The transfer of debt alongside the asset further streamlines the company’s financial structure. The completion of this sale marks another step in IRB’s asset monetisation plan under the InvIT framework.