Cintra acquires stake in IRBs private InVIT

Company
15 Mar 2024
5 Min read 
  • Cintra, a subsidiary of Ferrovial, has acquired a 24% stake in IRB Infrastructure Trust.
  •  The total deal size for the stake acquisition is INR 65.9 billion.
  •  IRB Infrastructure Developers Ltd owns 51% of the units in the Trust.
  •  IRB expects the collaboration with Cintra to enhance project planning and selection processes.
  •  IRB has a robust order book and expects a revenue CAGR of 12% over FY24-26E.
  •  Motilal Oswal research reiterates a Neutral rating on the stock with a TP of INR 60.
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