IRB Infrastructure and Developers (IRB) has successfully finalized the acquisition of Gandeva Ena (VM7) highway assets under the HAM model, valued at approximately Rs 1,200 crore. This acquisition, executed via the IRB InvIT Fund, is a component of the New Delhi Greenfield Expressway initiative.
The hybrid annuity model (HAM), which is a public-private partnership framework, has been instrumental in advancing infrastructure development in India, having been introduced by NHAI in 2016.
Following this transaction, the IRB InvIT Fund now possesses a portfolio comprising 10 highway assets, which includes eight BOT and two HAM projects, covering a total of 4,445 lane kilometers and estimated to be worth around Rs 17,600 crore.
Rushabh Gandhi, the Executive Director and CFO of IRB, remarked that the acquisition was financed through debt, thereby optimizing the capital structure. As the largest private developer of toll roads and highways in India, IRB boasts an asset base that exceeds Rs 90,000 crore across 13 states.
