IRB Infra Developers raises ₹5,347 cr equity

IRB Infrastructure Developers Ltd on Wednesday said it has completed equity fundraise of ₹5,347 crore from Cintra INR Investments BV and Bricklayers Investments Pte Ltd.

The company in a statement said Cintra has invested ₹3,180 crore through preferential placement, thus holding up to 24.9 per cent stake in the company, whereas, Bricklayers Investment has invested ₹2,167 crore through preferential issue, holding up to 16.9 per cent stake in the company.

Further, IRB Infra said the Cintra has nominated Jose Tamariz Martel Goncer as a non-retiring additional non-executive director and Carlos Ugarte Cruz Coke as an additional non-executive director on the Board of IRB Infrastructure Developers Ltd.

The statement noted that Virendra D Mhaiskar, the founder promoter of IRB Infra will continue as the promoter and single largest shareholder with 34 per cent holding in the company and will retain the management control.

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