IRB Infrastructure Developers on Tuesday said it would raise up to Rs 5,347 crore through a preferential allotment of equity shares to Spain’s infrastructure group Ferrovial SA and Singapore state investor GIC, the largest fundraise by an Indian road developer.
Ferrovial subsidiary Cintra Global SE will invest equity capital of up to Rs 3,180 crore for a 24.9 per cent stake, while GIC will invest equity capital of up to Rs 2,167 crore for a 16.9 per cent stake. This is the first such investment by Ferrovial in an Asian company.
The issue price for the preferential allotment is Rs 211.79 per share.
