News
IRB raises Rs 5,347 cr through preferential allotment of shares
IRB Infrastructure Developers on October 26 announced two equity fundraise through preferential allotments, one to Cintra INR Investments BV, a 100 pc subsidiary of Cintra Global S.E. and the other is to Bricklayers Investment, an affiliate of Singapore’s sovereign wealth fund GIC.
According to a press release, Cintra Global S.E., through its subsidiary Cintra, would invest equity capital of up to Rs 3,180 crore into IRB. Cintra will have a maximum stake of 24.9 per cent stake in IRB post- investment.
GIC, said the release, would invest equity capital of up to Rs 2,167 crore into IRB for a maximum stake of up to 16.9 per cent stake.
The total investment proceeds to IRB from these investments will be a maximum of Rs 5,347 crore. The issue price for both the preferential allotments is Rs 211.79 per share, said the release.
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