New Delhi (BharatNeeti): IRB Infrastructure Developers Ltd (IRB) has clarified its promoters have not pledged any shares to secure financial obligations. Mumbai-based IRB is India’s leading and the largest transport infrastructure developer with robust track record.
In a clarification related to a news, the company said “promoters have not pledged any shares to secure financial obligations. Instead, they have provided a non-disposal undertaking (committing not to sell a certain percentage of their holding in IRB) to GIC and the Ferrovial Group in the past (December 2021 and duly reflected in the shareholding pattern since then).”
The news had appeared on a broadcast channel saying “e “IRB Infra promoter Sudhar Mhaiskar creates pledge on 14.2 Lakhs shares.” Mhaiskar and entities controlled by her — DSM Projects Private Limited & SDM Ventures Private Limited, (collectively “SDM Entities”) qualify as a part of Promoter Group of the Company. The promoter group’s total holding in the company is negligible, constituting only 0.08%. SDM Entities are neither part of Promoters nor Person acting in concert with the Promoters. You may refer to the disclosures made by SDM Entities to the Exchanges, from time to time. We also clarify the SDM Entities have pledged the shares at their own accord.
IRB Infrastructure Developers Ltd (IRB) is India’s first Integrated Multi-National Transport Infrastructure Developer in Roads & Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of approximately Rs 80,000 crore in 12 states across the parent company and two InvITs.
The company has strong track record of constructing, tolling, operating, and maintaining around 18,500 lane km pan India in its existence of more than 25 years in India, of which 15,500 lane km are under operations at present. The group commands a market share of around 33 per cent of the awarded TOT space. It also comprises around 14 per cent share in the prestigious Golden Quadrilateral Highway Project and 12 per cent share in India’s North South highway connectivity.
