Cintra Global S.E., a toll road subsidiary of the Dutch major Ferrovial SE (BME:FER), is planning to sell up to a 5% stake in the IRB Infrastructure Developers Limited (NSEI:IRB) on 11 June 2024 to raise INR 19,002.9 million ($227.8 million) via a block deal, as per a term sheet reviewed by ET. As of the end of March 2024, Cintra holds a 24.86% stake in IRB Infrastructure under the name of CINTRA INR INVESTMENTS B V, according to BSE filings. This marks the second block deal in IRB Infrastructure in the last 15 days.

On May 30, 2024, IRB promoters sold 4% of their stake in the company through a block deal. Cintra has offered 301 million shares for sale with a floor price ranging from INR 63 to INR 70.16 per share. This represents a 10% discount from the lower range compared to the closing price on Monday.

Jefferies and HSBC are acting as bankers for the deal.