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IRB Infrastructure Developers Limited Capital/Financing Update 2021
62323_rns_2021-12-29_c49e3141-f3a3-450f-97fd-e26795834c1d.pdf
Capital/Financing Update
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Corporate Office : 3rd Floor, IRB Complex, Chandivali Farm, Chandivali Village, Andheri (El, Mumbai - 400 072. Tel: 91 - 22 - 6640 4220 /4880 4200· Fax: 91 - 22 - 2857 3441. e-mail: info®irb.co.in. www.irb.co.in CIN: L65910MHl998PlCl15967
December 29,2021
| To, | ||
|---|---|---|
| Corporate Relationship Department | Listing Department | |
| BSE Limited | National Stock Exchange of India Limited | |
| Phiroze Jeejeebhoy Towers | Exchange Plaza, C-1 Block G | |
| Dalal Street | Bandra Kurla Complex, Bandra (E) | |
| Mumbai - 400001 | Mumbai | |
| Scrip Code: 532947 | Symbol: IRB |
Dear Sir/Madam,
Subject: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Allotment of Equity Shares by way of preferential allotment on a private placement basis.
In furtherance of our letter dated October 26,2021, November 20,2021, November 29,2021 and November 30, 2021 regarding approval for issuance of Equity Shares through preferential issue on a private placement basis, we hereby inform you that Board of Directors of the Company at their meeting held on December 29,2021 has approved allotment of 25,24,50,000 fully Paid up equity Shares of face value ofINR 10 (Indian Rupees Ten) each in dematerialised form for a cash consideration at a price of INR 211.79 (Indian Rupees two hundred eleven and Paise seventy nine) each to the allottees named below:
| Sr No. |
Name of the Allottees | of Number Equity Shares |
Aggregate Subscription amount (INR) |
Post Preferential Allotment Shareholding |
|---|---|---|---|---|
| 1. | Cintra INR Investments BV | 15,01,59,212 | 3180,22,19,509.48 | 24.86% |
| 2. | Bricklay_ers Investment Pte. Ltd | 10,22,90,788 | 2166,41,65,990.52 | 16.94% |
Further these shares shall rank pari-pasu, in all respects with existing Equity Shares of the Company save and except lock-in obligations per applicable laws.
Consequent to the above allotment the issue, subscribed and paid-up share capital of the Company stands increased to INR 603,90,00,000/- (Indian Rupees Six Hundred three Crore and Ninety Lakh) comprising of 60,39,00,000 Equity Shares of face value ofINR 10/- each.
We request you to take the above on record.
For IRB Infrastructure Developers Limited
Mehul Patel Company secretary & Compliance Officer
Press Release:
IRB Infra completes INR 5,347 Crores equity fundraise
- Receives funds from Cintra INR Investments BV and Bricklayers Investments Pte. Ltd.
- Largest equity fundraise by Indian highways infrastructure developer
- Shareholders, including Institutional Shareholders had supported the resolution with thumping majority of 95% at the recently convened EGM
- Cintra to own 24.9% corresponding to investment of INR 3,250 Crores; whereas, Bricklayers to own 16.9% for investment of INR 2,167 Crores in IRB Infra
- Cintra appoints two directors on IRB Infra Board
Mumbai, December 29, 2021: IRB Infrastructure Developers Ltd., India's one of the leading highways infrastructure developers has completed the equity fundraise of INR 5,347 Crores, the largest equity fundraise by Indian highways infrastructure developers.
While commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director said, "We are happy to successfully close the largest fundraise in India's highways infrastructure sector and welcome our new investors Cintra and Bricklayers to IRB family. We also welcome nominees of Cintra on the Board. We are grateful to all our Shareholders, including the Institutional Shareholders for their whole-hearted support shown through a thumping favourable voting for the fundraise resolution at the EGM as well as the Statutory Authorities for according the mandatory statutory approvals for the deal. He added, "We are confident that with strong financial and strategic support as well as guidance of our new investors and stakeholders, IRB will excel across its operations and conquer new peaks of success in India's highways developments sector."
To re-iterate, on 26th October 2021, IRB Infra had announced the equity fundraise of up to INR 5,347 Crores through preferential shares allotment to the Cintra INR Investments BV, a 100% subsidiary of Cintra Global S.E., which is 100% subsidiary of the Ferrovial S.A., Spain, a global infrastructure giant and Bricklayers Investment Pte. Ltd., a 100% subsidiary of GIC, Sovereign Wealth Fund of the Singapore Govt.
As per the deal, Cintra has invested INR 3,180 Crores through preferential placement, thus holding up to 24.9% stake in the Company; whereas, Bricklayers Investment has invested INR 2,167 Crores through preferential issue, thus holding up to 16.9% stake in the Company.
Further, the Cintra has nominated Mr. Jose Tamariz Martel Goncer as a Non-retiring Additional Non-executive Director and Mr. Carlos Ugarte Cruz Coke as an Additional Non-executive Director on the Board of IRB Infrastructure Developers Ltd.
Mr. Jose, a Civil Engineer by Profession, joined Cintra in 1999. Since then, he has held several positions such as Head of Development at Cintra Aparcamientos and Head of Ireland. He became Head of Canada and CEO of 407 ETR in 2009, Head of Europe and New Markets in 2017 and Asset Management Director in 2018 to direct the Cintra Global and Cintra Infrastructure offices, located in Nederland.
Mr. Carlos, an Economist from the University of Chile, MBA and MSBA from the University of Southern California, joined Cintra in 1998 as CFO of Cintra Chile. He was appointed Head of Development NA in 2006 and Cintra Head of Business Development in 2010. He started his PPP career in the Treasury Ministry of Chile in 1986.
Mr. Virendra D. Mhaiskar, the Founder Promoter of IRB Infra will continue as the promoter and single largest shareholder with 34% holding in the company and will retain the management control.
The Company had convened Extra Ordinary General Meeting of its Shareholders on 20th November 2021, to seek their approval for the equity fundraise. 95% Shareholders, including the large Institutional Shareholders, have extended their full support with thumping votes favouring the resolution.
About Cintra / Ferrovial:
Cintra is one of the leading companies in the private development of transportation infrastructure throughout the world, by number of projects and by volume of investment. Cintra currently manages about 915 miles of highways, spread over 23 concessions in Canada, the United States, Europe, Australia and Colombia including a 43.23 percent stake in the 407 ETR Highway Concessionaire in Ontario, Canada.
Ferrovial, a leading global infrastructure operator, is committed to developing sustainable solutions. It is a member of Spain's blue-chip IBEX 35 index and an industry leader in the Dow Jones Sustainability Index; it is part of FTSE4Good and the Carbon Disclosure Project, and all its operations are conducted in compliance with the principles of the UN Global Compact, which the company adopted in 2002.
About GIC:
GIC is a leading global investment firm established in 1981 to secure Singapore's financial future. As the manager of Singapore's foreign reserves, GIC takes a long-term, disciplined approach to investing, and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. GIC's long-term approach, multi-asset capabilities, and global connectivity enable GIC to be an investor of choice. Headquartered in Singapore, GIC has a global talent force of over 1,800 people in 10 key financial cities and have investments in over 40 countries. For more information on GIC, please visit gic.com.sg or follow us on LinkedIn.
About IRB Infrastructure Developers Ltd:
IRB Infrastructure Developers Ltd (IRB) is India's one of the largest and leading private roads and highways infrastructure developers, with an asset base of over Rs. 61,000 Crs. across the parent company and two InvITs.
The Company has strong track record of constructing over 13,754 lane Kms pan India in two decades and has an ability to construct over 500 Kms in a year.
It has approx. 20% share in India's prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.
IRB Group's portfolio (including Private and Public InvIT) comprises 25 projects in all, including 24 highway projects that further include 19 BOT projects, 1 TOT projects and 4 HAM projects and 1 Airport project in Sindhudurg District of Maharashtra.
For further details, please contact:
- Vivek Devasthali, Head Corporate Communications, 99300 80099, [email protected]
- Siddharth Kumar, Sr. Account Director, Adfactors PR, 99029 29187 [email protected]