GIC Sells IRB Infra Trust Shares for Rs 5,884 Crore

New Delhi, Jun 13 (PTI) Singapore's sovereign wealth fund GIC on Thursday offloaded shares of IRB Infrastructure Trust for Rs 5,884 crore through open market transactions.

GIC through its affiliates, Anahera Investment Pte, Dagenham Investment Pte and Stretford End Investment Pte, offloaded shares of IRB Infrastructure Trust on the National Stock Exchange (NSE).

As per the bulk deal data on the NSE, Anahera sold 20.42 crore shares of IRB Infrastructure Trust and Dagenham offloaded 4.90 crore shares of the company.

Stretford End also disposed of 1.40 crore shares of Mumbai-based IRB Infrastructure Trust.

A total of 26.72 crore shares were offloaded by the three GIC entities.

The shares were sold at an average price of Rs 220.22 apiece, taking the combined deal value to Rs 5,884.27 crore.

Meanwhile, dutch infrastructure major Ferrovial acquired these shares at the same price. Ferrovial through its arm Cintra InvIT Investments BV acquired shares of IRB Infrastructure Trust.

Shares of IRB Infrastructure Trust surged 9.62 per cent to close at Rs 220.22 apiece on the NSE.

IRB Infrastructure Trust is held by the IRB Infrastructure Developers and GIC as sponsors with stakes of 51 per cent and 49 per cent, respectively.