IRB Infra gains 3% after fundraising
NEW DELHI: Shares of IRB Infrastructure added 3 per cent in early trade Thursday after the company said that it has raised Rs 5,346.6 crore upon approving allotment of 25,24,50,000 equity shares at a price of Rs 211.79 per share to Cintra INR Investments BV and Bricklayers Investment.
IRB Infra’s share price rose to a high of Rs 229 as against the previous close of Rs 222.95 on the National Stock Exchange.
As part of the fundraiser, Spanish infrastructure company Ferrovial’s subsidiary Cintra Global SE will invest equity capital of up to Rs 3,180 crore for a 24.9 percent stake in the company, while GIC will invest equity capital of up to Rs 2,167 crore for a 16.9 percent stake, reports quoted IRB Infrastructure as saying in a press release on Wednesday.
