Cintra Global, an arm of Spanish infrastructure firm Ferrovial, and Bricklayers Investment Pte, an affiliate of GIC, will pick up around 42% stake in IRB Infrastructure at a total equity investment of up to Rs 5,347 crore. Post their investment, Cintra Global will have a maximum of 24.9% stake for its investment of up to Rs 3,180 crore, while GIC will invest up to Rs 2,167 crore for a maximum of 16.9% stake. Shares will be allotted to the two through the preferential route at Rs 211.79 apeice, IRB said in a statement. Post the completion of the transactions, promoters will have 34% stake in the company from 58.46% as on September-end. IRB’s shares settled at Rs 294.4 apiece in the BSE on Tuesday. “The two transactions are subject to execution of definitive documents, approval of IRB shareholders, receipt of regulatory and lenders approvals and satisfaction of customary condition precedents,” the company said. IRB Infra, which reported Rs 42-crore net profit on Tuesday for the July-September quarter of the current fiscal, compared with a loss of Rs 20 crore in the same period last fiscal, said that the proceeds of will help it achieve the twin objectives of deleveraging and access to growth capital. Total income during the quarter under review increased to Rs 1,504 crore from Rs 1,169 crore in the year-ago period. Of the total proceeds, IRB would use Rs 3,250 crore for deleveraging, Rs 1,497 crore is to be used as growth capital and the remaining Rs 600 crore for general corporate purposes. Cintra Global, an arm of Spanish infrastructure firm Ferrovial, and Bricklayers Investment Pte, an affiliate of GIC, will pick up around 42% stake in IRB Infrastructure at a total equity investment of up to Rs 5,347 crore. Post their investment, Cintra Global will have a maximum of 24.9% stake for its investment of up to Rs 3,180 crore, while GIC will invest up to Rs 2,167 crore for a maximum of 16.9% stake. Shares will be allotted to the two through the preferential route at Rs 211.79 apeice, IRB said in a statement. Post the completion of the transactions, promoters will have 34% stake in the company from 58.46% as on September-end. IRB’s shares settled at Rs 294.4 apiece in the BSE on Tuesday. “The two transactions are subject to execution of definitive documents, approval of IRB shareholders, receipt of regulatory and lenders approvals and satisfaction of customary condition precedents,” the company said. IRB Infra, which reported Rs 42-crore net profit on Tuesday for the July-September quarter of the current fiscal, compared with a loss of Rs 20 crore in the same period last fiscal, said that the proceeds of will help it achieve the twin objectives of deleveraging and access to growth capital. Total income during the quarter under review increased to Rs 1,504 crore from Rs 1,169 crore in the year-ago period. Of the total proceeds, IRB would use Rs 3,250 crore for deleveraging, Rs 1,497 crore is to be used as growth capital and the remaining Rs 600 crore for general corporate purposes.