IRB Infra promoters likely to sell 4% stake to raise Rs 15.12 billion

31 May 2024 CW Team

According to a term sheet reviewed by ET, the promoters of IRB Infrastructure Developers are poised to divest a 4% stake in the company on Thursday, aiming to raise Rs 15.12 billion.

The selling entities, which include IRB Holding Private and Deepali Virendra Mhaaiskar, have put up 240 million shares for sale, with a floor price set between Rs 63 to Rs 72.7 per share.

This floor price reflects a 13% discount from the closing price on May 29. Jefferies and CLSA India are acting as bankers for the deal, signalling the strategic involvement of leading financial institutions in facilitating the transaction.

(Source: ET Infra)

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