Shares of IRB Infrastructure Developers (IRB Infra) were locked at the 10 per cent lower circuit at Rs 266 on the BSE in Wednesday’s intra-day trade after the company’s board approved fund raising of up to Rs 5,347 crore by issuing 252.45 million equity shares through preferential issue on a private placement basis. The issue price for the preferential allotments is Rs 211.79 per share, a 28 per cent discount to Tuesday’s closing price of Rs 294.40 on the BSE.
Till 10:44 am; a combined 13.3 million shares had changed hands at the counter and there were pending sell orders for around 1.2 million shares on the NSE and BSE, the exchanges data showed.
