IRB Infra promoter creates pledge on holdings; stock trades flat amid strong stock market trends

IRB Infrastructure Developers share price traded higher on Monday, extending its gaining streak for the fifth consecutive session. IRB Infrastructure shares have rallied more than 11% in the past five trading sessions.

One of the promoters of IRB Infrastructure Developers, Sudha Dattatray Mhaiskar, has pledged a part of the shares of the company held by her, a regulatory filing showed.

Mhaiskar has created a pledge on 7,83,000 shares of IRB Infrastructure Developers held by her in favour of Kotak Securities.

“I Smt. Sudha Dattatray Mhaiskar hereby submit the disclosure pursuant to Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 together with Annexure II as per SEBI Circular No. SEBI/HO/CFD/DCR1/CIR/P/2019/90 regarding Creation of pledge in favour of Kotak Securities Limited 7,83,000 shares of IRB Infrastructure Developers Limited,” a stock exchange filing dated March 21 said.

Sudha Dattatray Mhaiskar holds 50,59,080 equity shares of IRB Infrastructure Developers, representing 0.08% stake in the company.

Prior to the transaction, Mhaiskar had pledged 35,42,000 IRB Infra shares, or 0.059% stake in the company. On March 13, the promoter additionally pledged 7,83,000 shares of the company, or 0.013% stake, held by her. The reason for the encumbrance is personal borrowing, according to the filing.

With the latest transaction, the total number of pledged shares by Sudha Mhaiskar has increased to 43,25,000 shares, representing 0.072% stake in the company.

IRB Infra Stock Price Trend

IRB Infra share price has gained only 1% in one month, but the stock has fallen more than 20% year-to-date (YTD). Over the past six months, IRB Infrastructure shares have dropped 24%, and it has fallen 20% in one year.

In the long-term, IRB Infrastructure Developers stock price has delivered multibagger returns to investors. IRB Infra shares have surged 107% over the past three years and has delivered an impressive gain of 890% over the last five years.

At 12:25 PM, IRB Infrastructure shares were trading 0.94% higher at ₹47.29 apiece on the BSE.

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