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IRB Infra promoters likely to sell 4% to raise Rs 1,512 crore
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IRB Infrastructure Developers are likely to sell a 4% stake in the company on Thursday to raise ₹1,512 crore ($181 million), according to a term sheet reviewed by ET.
The selling entities include IRB Holding Private and Deepali Virendra Mhaaiskar.
As of March 2024, IRB Infrastructure promoters held a stake of 34.29% in the company, as per BSE filings.
The sellers have put up 240 million shares for sale with a floor price ranging from ₹63 to ₹72.7 per share. This represents a 13% discount on the lower range compared to the closing price on Wednesday.
Jefferies and CLSA India are serving as bankers for the deal.
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Read more on economictimes.indiatimes.com
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