Italian firm Atlantia may buy assets of IRB Infra

Highway Construction company IRB Infrastructure Developers and Italy's infrastructure major Atlantia are working out a road asset deal. Atlantia is interested in acquiring IRB's operational road assets, which includes the Mumbai-Pune Expressway.

The expected value of the deal is around US$ 2 billion. IRB has 8,000 km lanes in its BOT portfolio; 4,000 km of O&M roads, which are among the busiest highways and toll roads in India. The company also hold roughly 20 per cent share in the Golden Quadrilateral project.

The company registered total income of Rs. 1,269 crore for Q2FY18, while for H1FY18 its was Rs. 3,140 crore. The Q2 Net Profit were at Rs. 235 crore and for H1FY18 it was Rs. 473 crore. IRB's total Order Book stood at approx. Rs. 8,200 crore at the end of Q2FY18.

At 10:59 hours, IRB Infra was quoting Rs. 254.90 per share, up by 2.04 per cent on Monday. The stock moved out of F&O ban on Monday.