IRB Infrastructure Developers (IRB) is currently trading at Rs. 124.65, up by 3.00 points or 2.47% from its previous closing of Rs. 121.65 on the BSE.
The scrip opened at Rs. 122.50 and has touched a high and low of Rs. 124.80 and Rs. 122.35 respectively. So far 1,57,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 210.15 on 21-Feb-2012 and a 52 week low of Rs. 111.35 on 07-May-2012.
Last one week high and low of the scrip stood at Rs. 149.50 and Rs. 111.35 respectively. The current market cap of the company is Rs. 4,142.00 crore.
The promoters holding in the company stood at 67.55% while Institutions and Non-Institutions held 24.19% and 8.27% respectively.
IRB Infrastructure Developers has executed definitive agreements with the MVR Infrastructure & Tollways promoters, existing institutional shareholders and other shareholders of the company for an aggregate consideration not exceeding Rs 130 crore.
Earlier, IRB has received its board’s approval for acquisition of 69,10,170 equity shares constituting 100% stake of MVR Infrastructure & Tollways from its promoters, existing institutional shareholders and other shareholders.
The transaction is proposed to be completed in three tranches, subject to various terms and conditions including obtaining of necessary approvals from regulatory authorities (including the NHAI) and lenders of the company. The board of directors of the company has approved the execution of certain definitive documents in this regard and further disclosures, if any will be made at the time of the execution of the definitive documents.
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