Ferrovial Divests 5% Stake in IRB Infrastructure Developers for Rs 1,920 Crore

Dutch infrastructure firm Ferrovial sold a 5% stake in IRB Infrastructure Developers worth Rs 1,920 crore through open market transactions. The sale was executed by its affiliate Cintra INR Investments BV on the National Stock Exchange. Post-sale, Cintra's holding in IRB decreased to 19.86% from 24.86%.

Dutch infrastructure major Ferrovial on Tuesday divested a 5 per cent stake in IRB Infrastructure Developers for Rs 1,920 crore via open market transactions.

The shares were sold through Ferrovial's subsidiary, Cintra INR Investments BV, on the National Stock Exchange in two separate tranches. According to NSE bulk deal data, Cintra INR Investments BV offloaded 30.19 crore shares at prices ranging from Rs 63.43 to Rs 64.02 each, culminating in a deal value of Rs 1,920.61 crore.

Following this sale, Cintra's ownership in the Mumbai-based infrastructure firm has reduced to 19.86 per cent from the previous 24.86 per cent. The buyers of these shares have not been disclosed. On the same day, shares of IRB Infrastructure Developers saw a 5.30 per cent drop, closing at Rs 66.44 apiece on the NSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)