IRB Infra gets nod for stake sale

IRB Infrastructure Developers has received an approval for the sale of the entire stake held by the Company (including its nominee shareholders) and its subsidiary, namely Modern Road Makers (Project Manager); in IRB Pathankot Amritsar Toll Road (IPATRL) to the IRB InvIT Fund (Trust). In this connection, the parties will enter into a share purchase agreement. The InvIT Committee of the Board of Directors of the Company at its meeting held on September 28, 2017, approved the same.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.