IRB Infra Stock Cracks 13% Over Multiple Large Deals

IRB Infrastructure Developers Limited (formerly IRB Infrastructure Developers Private Limited), is an Indian highway construction company, It is a part of the IRB Group. It is a leading player in highway construction and infrastructure development in India. With 25 years of experience, the company has built, tolled, operated, and maintained approximately 18,500 lane kilometers across the country, of which 15,500 lane kilometers are currently operational The stock of IRB Infra has fallen by as much as 13% today as a result of a large block deal l involving 240 Million shares.

IRB Infra Block Deal

RB Infra’s share price made a day low of Rs.63.30 per share during today’s intraday trading, experiencing a significant 13% drop. This decline was mainly prompted by a substantial block deal that occurred earlier in the day.

As reported around 240 million shares, equivalent to 4% of the company’s total equity, were traded in the block deal window. IRB Holding Pvt. Ltd. and Deepali Virendra Mhaiskar are likely the sellers. The total offer size represents up to 4% of the company’s equity, with a maximum value of Rs.1512 crore at the lower end of the price band.

IRB Stock Performance:

The stock of IRB Infra has given attractive returns of more than 130% over the past year. The stock is up by 57% in 2024. It currently trades at a price-to-earnings multiple of 66.3 and has a price-to-book ratio of 3. The company has a total market capitalization of more than Rs.40,000 crores. The stock has a 52-week high and 52-week low of Rs.76.55 and Rs.24.95 respectively.

Conclusion

The substantial block deal resulting in a 13% drop in IRB Infra’s share price to Rs.63.30 a piece highlights significant shareholder movement, with IRB Holding Pvt. Ltd. and Deepali Virendra Mhaiskar likely involved in selling 4% of the company’s equity. This transaction, valued up to Rs.1512 crore as per reports, has shown notable shifts within the company’s ownership structure. The stock currently trades at Rs.66.40 a piece down by 8.6% from its previous day closing price.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions