IRB Infra shares surge over 9 pc as unit files for IPO

Shares of IRB Infrastructure Developers today surged over 9 per cent after the company said its infrastructure investment trust has filed an application with Sebi for a Rs 4,300-crore initial public offering.
The stock zoomed 9.11 per cent to settle at Rs 252.05 on BSE. During the day, it soared 9.82 per cent to Rs 253.70.
On NSE, shares of the company jumped 9.28 per cent to close at Rs 252.
The company added Rs 740.3 crore to Rs 8,858.30 crore in market valuation.
On the volume front, 11.41 lakh shares of the company were traded on BSE and over 81 lakh shares changed hands on NSE during the day.

IRB InvIT Fund (the Trust), an infrastructure investment trust, has filed an application with Sebi for a Rs 4,300-crore initial public offering.
The Mumbai-based toll road developer said it is the sponsor of IRB InvIT Fund (the Trust), an infrastructure investment trust registered with the Sebi under its (Infrastructure Investment Trusts) Regulations, 2014 (the InvIT Regulations).
"The initial public offer consists of a fresh issue of units, aggregating up to Rs 43,000 million, by the trust and an offer for sale of units by the company and certain of its subsidiaries, namely Modern Road Makers Private Limited, Aryan Toll Road Private Limited, ATR Infrastructure Private Limited and Ideal Road Builders Private Limited," IRB Infrastructure Developers said in a BSE filing.