HSBC Global Investment Funds raises stake in IRB Infrastructure to nearly 6 per cent

NEW DELHI: HSBC Global Investment Funds has raised stake in IRB Infrastructure Developer to nearly six per cent with the acquisition of 1.48 per cent stake through the open market route.

In a regulatory filing, IRB Infrastructure said before the transaction, which was executed on September 13, HSBC Global Investment Funds had 1.49 crore shares or 4.48 per cent stake in the company.

Post transaction, HSBC Global Investment Funds now holds 1.98 crore shares or 5.96 per cent in IRB Infrastructure.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several Special Purpose Vehicles.

Shares of IRB Infrastructure today settled at Rs 126.35 apiece, up 2.64 per cent over the previous closing in the BSE.