Friday, November 22, 2024

Block deal launched in IRB Infrastructure, valued upto ₹1,512 crore – CNBC TV18

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A block deal has been launched in IRB Infrastructure Developers Ltd on Wednesday (May 29), with seller IRB Holding Private Ltd offering up to 225 million shares. Additionally, Deepali Virendra Mhaiskar is offering up to 15 million shares in this transaction.

The offer price range is set between ₹63.0 and ₹72.7 per equity share, reflecting a potential discount of up to 13.3% from the upper price band of ₹72.7 per share. The total offer size represents up to 4% of the company’s equity, with a maximum value of ₹1,512 crore at the lower end of the price band.

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The transaction is being managed by Jefferies India Private Ltd and CLSA India Private Ltd. Additionally, the sellers are subject to a 180-day lock-up period on further share sales.

IRB Infrastructure Developers reported a 45.1% year-on-year (YoY) jump in net profit at ₹188.9 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, IRB Infrastructure Developers posted a net profit of ₹130.2 crore, the company said in a regulatory filing.

The company’s revenue from operations increased 27.2% to ₹2,061.2 crore against ₹1,620 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA increased 17.3% to ₹889.9 crore in the fourth quarter of this fiscal over ₹758.7 crore in the corresponding period in the previous fiscal.

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Shares of IRB Infrastructure Developers Ltd ended at ₹72.74, up by ₹1.22, or 1.71% on the BSE.

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