IRB Infrastructure shines as its associate company gets Letter of Award from NHAI
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
IRB Infrastructure Developers is currently trading at Rs. 42.90, up by 2.03 points or 4.97% from its previous closing of Rs. 40.87 on the BSE.
The scrip opened at Rs. 41.59 and has touched a high and low of Rs. 42.95 and Rs. 41.40 respectively. So far 4168736 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 43.46 on 18-Dec-2023 and a 52 week low of Rs. 22.56 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 43.46 and Rs. 39.36 respectively. The current market cap of the company is Rs. 25599.32 crore.
The promoters holding in the company stood at 34.39%, while Institutions and Non-Institutions held 54.67% and 10.94% respectively.
IRB Infrastructure Developers’ associate company -- IRB Infrastructure Trust has received Letter of Award (LoA) from the National Highways Authority of India (NHAI) for TOT-13 comprising Gwalior- Jhansi section on NH-44 and Kota Bypass on NH 76 projects for an upfront consideration of Rs 1,683 crore, (where the Trust was emerged as a preferred bidder) for the revenue linked Concession of 20 years.
The receipt of LoA will now enable the Trust to form Project Special Purpose Vehicle (SPV) for signing Concession Agreement with the Nodal Agency, and subsequently proceed for financial closure within stipulated time frame.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles
