Block trade of up to Rs 1,512 crore likely in IRB Infra at Rs 63-72.70: CNBC-TV18

A block of shares in IRB Infrastructure are likely to be sold on May 30 at a price that is up to 13.3% discount to the last closing price, according to CNBC-TV18.

Sources told the channel that up to 4 percent of company's total equity could be sold at a price range of Rs 63-72.70 per share by two seller entities - IRB Holding Pvt Ltd and Deepali Virendra Mhaiskar. At the lower end of the price band, the offer size is estimated to be Rs 1,512 crore with a lock in of up to 180 days on further share sale by seller entities.

Jefferies and CLSA India are reported to be the brokers of the block trade.

This story will be updated when more information is available.