Business · Companies · 6 hrs ago
Ircon puts four highway assets up for sale
Ircon International, an Indian government-owned engineering company, has put four highway assets up for sale under the government’s infrastructure monetisation programme.
The assets are expected to have an enterprise value of about ₹3,000 crore.
Two are toll roads and two were built under a model in which the government makes payments to the developer over time.
The projects are in Madhya Pradesh, Rajasthan, Karnataka and Gujarat.
The sale is part of an effort to unlock value from public infrastructure.
Ircon still relies mainly on railway work, which contributed about 82% of its operating income in FY26.
Axis Capital has the mandate to handle the sale.
Ircon International has put four highway assets up for sale as part of the government’s infrastructure monetisation programme.
The assets comprise two toll-road projects and two hybrid annuity model projects in four Indian states.
Their enterprise value is expected to be around ₹3,000 crore, according to people familiar with the development.
Axis Capital has the sale mandate.
The government holds a 65% stake in Ircon.
- Who
- Ircon International, a railway ministry engineering and construction company, is selling the assets.
- What
- It has put four highway assets up for sale, with an expected enterprise value of around ₹3,000 crore.
- When
- The sale was reported on October 13, 2026; the sources do not state when the sale process began.
- Where
- The assets are in Madhya Pradesh, Rajasthan, Karnataka and Gujarat.
- Why
- The sale is part of the government’s broader infrastructure monetisation programme.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Assets for sale
- Four highway assets
- Expected enterprise value
- Around ₹3,000 crore
- Sale mandate
- Axis Capital
- Government stake in Ircon
- 65%
- Toll-road assets
- 97-km Ircon Shivpuri Guna Tollway; 159-km Ircon PB Tollway
- Hybrid annuity projects
- 79-km Ircon Davanagere Haveri Highway; 32-km IrconVadodara Kim Expressway
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