The issue price for both transactions was set at Rs 211.79 a share.
Mhaiskar will continue as the promoter and single-largest shareholder after the completion of the transactions, with an approximate 34 percent stake, and will retain management control of IRB, the company said in a statement.
From the proceeds of the transactions, IRB would use Rs 3,250 crore to repay corporate debt, Rs 1,497 crore as growth capital and Rs 600 crore for general corporate purposes.
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