• Portfolio expands to 10 operational assets with aggregate Enterprise Value of ~₹17,600 crore
  • The addition of Asset enhances stable annuity revenue and payout visibility.

Mumbai : IRB InvIT Fund, India’s first listed infrastructure investment trust sponsored by IRB Infrastructure Developers Limited has completed the acquisition of Gandeva Ena (VM7) HAM Asset, which is part of upcoming New Delhi Greenfield Expressway.

With this acquisition, IRB InvIT Fund has strengthened its operational portfolio of matured assets with 10 highway assets, which include 8 BOT and 2 HAM assets having 4,445 lane kilometers and aggregate asset value of approx. ₹17,600Crs. 

Commenting on the development, Mr. Rushabh Gandhi, Executive Director and Chief Financial Officer of IRB Infrastructure Private Limited, the Investment Manager (“Investment Manager”) of the Trust said, “The acquisition has enhanced the Trust’s asset base and long-term revenue visibility by providing stable and predictable annuity revenue over the concession period. This is expected to improve distributable cash flow and dividend payouts for unitholders in the future. He further said, the acquisition has been funded through debt, thereby optimising the capital structure and improving project-level IRR. It further reinforces the InvIT’s focus on accretive growth supported by disciplined capital allocation.”

To reiterate, on 1st December 2025, the IRB InvIT Fund had entered into a Binding Term Sheet with Sponsors IRB Infrastructure Developers Ltd. for acquisition of 100% of the Equity Share Capital of an SPV – VM7 Expressway Pvt. Ltd. – which operate Gandeva Ena Hybrid Annuity highway project spanning approximately 27.5Kms (approx. 220 Lane Kms). The Unitholders have subsequently accorded their approval for the acquisition as well as appointing the Sponsor, IRB Infrastructure Developers Ltd. as the Project Manager to the Trust to undertake the operation and maintenance (“O&M”) activities of an SPV.