Shares of IRB Infrastructure jumped as much as 3 per cent to hit intraday high of Rs 255.35 after the Mumbai-based road developer announced that it has bagged a road project in Rajasthan.
IRB Infrastructure on Tuesday said it has bagged a DBFOT (design, build, finance, operate and transfer) road project for six-laning of a 125 km long Kishangarh-Udaipur-Ahmedabad section in Rajasthan.
The company emerged as a preferred bidder for the 125 km long project, which is to be constructed on design, build, finance, operate and transfer (DBFOT) basis under the National Highways Development Project's phase V (package-V), IRB Infrastructure said in a statement.
With this, IRB's construction order book will increase to around Rs 11,300 crore, to be executed in the next four years.
Meanwhile, IRB Infrastructure had on September 8, filed an application for an initial public offering of its infrastructure investment trust to raise up to Rs 4,300 crore.
The IPO would be India's first listing of an infrastructure investment trust (InvIT) after the Securities and Exchange Board of India (SEBI) unveiled in 2014 rules that provided a regulatory framework to set up and list these structures.
Last month, IRB Infrastructure had reported a 10.5 per cent rise in consolidated net profit at Rs 181.88 crore for the fiscal first quarter that ended on June 30, 2016.
As of 10:35 a.m., shares of IRB Infrastructure traded 1.55 per cent higher at Rs 152 outperforming Nifty which was up 0.4 per cent.
IRB Infrastructure on Tuesday said it has bagged a DBFOT (design, build, finance, operate and transfer) road project for six-laning of a 125 km long Kishangarh-Udaipur-Ahmedabad section in Rajasthan.
The company emerged as a preferred bidder for the 125 km long project, which is to be constructed on design, build, finance, operate and transfer (DBFOT) basis under the National Highways Development Project's phase V (package-V), IRB Infrastructure said in a statement.
With this, IRB's construction order book will increase to around Rs 11,300 crore, to be executed in the next four years.
Meanwhile, IRB Infrastructure had on September 8, filed an application for an initial public offering of its infrastructure investment trust to raise up to Rs 4,300 crore.
The IPO would be India's first listing of an infrastructure investment trust (InvIT) after the Securities and Exchange Board of India (SEBI) unveiled in 2014 rules that provided a regulatory framework to set up and list these structures.
Last month, IRB Infrastructure had reported a 10.5 per cent rise in consolidated net profit at Rs 181.88 crore for the fiscal first quarter that ended on June 30, 2016.
As of 10:35 a.m., shares of IRB Infrastructure traded 1.55 per cent higher at Rs 152 outperforming Nifty which was up 0.4 per cent.
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