Promoter entities of IRB Infra sell shares worth Rs 147 cr

Two promoter entities of construction firm IRB Infrastructure Developers today offloaded 1.2 crore shares of the company for more than Rs 147 crore through open market transactions.

Ideal Toll & Infrastructure, which held 1.06 crore shares or 3.19% stake in the construction company at the end of June quarter, sold 81.15 lakh shares, according to bulk deal data available with the stock exchanges.

In addition, one Dattatray Pandurang Mhaiskar - who held 94.78 lakh shares amounting to 2.85% holding in IRB Infrastructure as of June quarter - offloaded 38.84 lakh shares on the NSE. Mhaiskar also sold 47.98 lakh scrips on the BSE.

The shares were sold at an average price of Rs 123, valuing the deal at Rs 147.60 crore.

HSBC Global Investment Fund A/C Indian Equity Fund, has acquired 35.39 lakh shares of IRB Infrastructure for Rs 43.53 crore.    

At the BSE, shares of IRB Infrastructure slipped marginally by 0.73% to settle at Rs 123.10 today.

Meanwhile, cigarettes-to-hotels major ITC Ltd, which held 1.72 lakh shares or 1.12% holding in VST Industries at the end of June quarter, sold one lakh shares of the company for a little over Rs 17 crore.

Shares of VST Industries rose 3.29% to close at Rs 1,725.