
Open Your Free Demat Account
Enjoy low brokerage on delivery trades
BAJAJ BROKING
Cintra, a subsidiary of Ferrovial, plans to sell up to 5% stake in IRB Infrastructure for ₹1,900.29 crore ($227.8 million) via a block deal, offering 301 million shares at ₹63-70.16/share. This marks the second recent block deal in IRB Infrastructure.
Cintra, a toll road subsidiary of the Dutch major Ferrovial, is preparing to sell up to a 5% stake in IRB Infrastructure through a block deal, aiming to raise ₹1900.29 crore ($227.8 million).
This move comes as part of Cintra's strategic divestment plan and represents its continued involvement in the Indian infrastructure sector.
Explore: Irb Infra Dev Ltd. Share Price
As of March 2024, Cintra holds a significant 24.86% stake in IRB Infrastructure under the name of CINTRA INR INVESTMENTS B V. The planned stake sale follows another recent transaction where IRB promoters sold 4% of their stake through a block deal.
Cintra has proposed offering 301 million shares for sale with a floor price ranging from ₹63 to ₹70.16 per share, representing a 10% discount from the lower range compared to the closing price on the preceding Monday.
The block deal is facilitated by Jefferies and HSBC, who are acting as bankers for the transaction. The deal is priced in the range of ₹63-70.16 per share, with the transaction size estimated at approximately ₹1,900.3 crore at the lower end of the price band.
If the entire stake is sold, a lock-up period of 150 days will be imposed on further sales.
In December 2021, Cintra acquired its stake in IRB Infrastructure for €369 million, showcasing its continued commitment to the Indian infrastructure market.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Disclaimer :
The information on this website is provided on "AS IS" basis. Bajaj Broking (BFSL) does not warrant the accuracy of the information given herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or suitability for any particular purpose. While BFSL strives to ensure accuracy, it does not guarantee the completeness, reliability, or timeliness of the information. Users are advised to independently verify details and stay updated with any changes.
The information provided on this website is for general informational purposes only and is subject to change without prior notice. BFSL shall not be responsible for any consequences arising from reliance on the information provided herein and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Interest rates, fees, and charges etc., are revised from time to time, for the latest details please refer to our Pricing page.
Neither the information, nor any opinion contained in this website constitutes a solicitation or offer by BFSL or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.
BFSL is acting as distributor for non-broking products/ services such as IPO, Mutual Fund, Insurance, PMS, and NPS. These are not Exchange Traded Products. For more details on risk factors, terms and conditions please read the sales brochure carefully before investing.
Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For more disclaimer, check here : https://www.bajajbroking.in/disclaimer
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading