Business Standard

Tuesday, December 24, 2024 | 10:46 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

IRB Infra locked at 10% lower circuit on equity dilution concerns

IRB Infra has announced two separate equity fundraise of up to Rs 5,347 crore via preferential issue of equity shares, at Rs 211.79 per share, a 28 per cent discount to Tuesday close

IRB Infrastructure
Premium

SI Reporter Mumbai
Shares of IRB Infrastructure Developers (IRB Infra) were locked at the 10 per cent lower circuit at Rs 266 on the BSE in Wednesday’s intra-day trade after the company's board approved fund raising of up to Rs 5,347 crore by issuing 252.45 million equity shares through preferential issue on a private placement basis. The issue price for the preferential allotments is Rs 211.79 per share, a 28 per cent discount to Tuesday’s closing price of Rs 294.40 on the BSE.

Till 10:44 am; a combined 13.3 million shares had changed hands at the counter and there were pending sell

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in