IRB Infra Developers raises Rs 5,347 crore via preferential issue of shares

Cintra has invested Rs 3,180 crore and Bricklayers Investment has invested Rs 2,167 crore

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

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