Cintra deal, expanding order book triggers for IRB Infrastructure

The news that Cintra, a subsidiary of Spain-based infrastructure company Ferrovial, will buy a stake in IRB’s Investment Trust (IRBIT) has boosted its stock. Cintra will buy a 24 per cent stake from GIC affiliates in IRBIT.

It will also pick up a 24 per cent stake in MMK Toll Road Pvt Ltd (MMK), which is the investment manager of IRBIT, a publicly listed Infrastructure Investment Trust (InvIT).

IRB Infrastructure Developers (IRB) owns 51 per cent of the units, with the remaining 49 per cent held by various GIC Affiliates.

Cintra will be acquiring 24 per cent stake in IRBIT