Promoters of IRB Infrastructure Developers Limited (NSEI:IRB) are likely to sell a 4% stake in the company on 30 May 2024 to raise $181 million, according to a term sheet reviewed by ET. The selling entities include IRB Holding Private and Deepali Virendra Mhaaiskar. As of March 2024, IRB Infrastructure promoters held a stake of 34.29% in the company, as per BSE filings.

The sellers have put up 240 million shares for sale with a floor price ranging from INR 63 to INR 72.7 per share. This represents a 13% discount on the lower range compared to the closing price on Wednesday. Jefferies and CLSA India are serving as bankers for the deal.