IRB Infrastructure's Public Shareholder Divests Stake For Rs 1,920 Crore

Cintra INR Investments BV offloaded a 5% stake in IRB Infrastructure Developers Ltd. for Rs 1,920 crore through open market transactions on Tuesday.

The public shareholder, an affiliate of Dutch infrastructure major Ferrovial Group, sold shares in the company in two separate bulk deals, according to data on NSE.

In the first trade, Cintra INR Investments BV sold a 1.5% stake comprising 9.05 crore shares at Rs 64.02 apiece. In the second bulk deal, the company sold 21.13 crore shares, representing 3.5% of the Mumbai-based infrastructure company, at Rs 63.43 per share.

Details of the buyers were not immediately known.

Cintra INR Investments BV held a 24.86% stake in the company as of March 2024.

Shares of IRB Infrastructure Developers closed 5.30% lower at Rs 66.44 per share, as compared with a 0.02% rise in the Nifty 50 on Tuesday. The stock hit its lifetime high of Rs 78.15 on Friday and has fallen over 13.55% since then.