Ferrovial sells 5% stake in IRB Infra for Rs1,920 crore
Cintra INR Investments BV offloaded a total of 30.19 crore shares in IRB Infrastructure Developers. The shares were disposed of in the range of Rs 63.43-64.02 apiece
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New Delhi: Dutch infrastructure major Ferrovial on Tuesday sold a 5 per cent stake in IRB Infrastructure Developers for Rs 1,920 crore through open market transactions. Ferrovial Group through its affiliate Cintra INR Investments BV sold shares of Mumbai-based infrastructure company IRB Infrastructure Developers in two tranches on the National Stock Exchange.
As per the bulk deal data on the NSE, Cintra INR Investments BV offloaded a total of 30.19 crore shares or a 5 per cent stake in IRB Infrastructure Developers. The shares were disposed of in the range of Rs 63.43-64.02 apiece, taking the combined deal value to Rs 1,920.61 crore. After the stake sale, Cintra INR Investments BV's shareholding in IRB Infra Developers has declined to 19.86 per cent from 24.86 per cent.
Details of the buyers of IRB Infra Developers' shares could not be ascertained. Shares of IRB Infrastructure Developers plunged 5.30 per cent to close at Rs 66.44 apiece on the NSE. In December 2021, Cintra, Ferrovial's toll road subsidiary, completed the acquisition of a 24.86 per cent stake in IRB Infrastructure Developers for 369 million euro. IRB Infrastructure Developers is a leading toll road developer and operator in the Indian market, having developed the country's first Build-Operate-Transfer (BOT) concession.
