IRB Infra declines 4% due to profit booking, and the board proposes a 1:10 stock split

Despite today’s dip, the stock has increased by 12% over the past month and by as much as 45% over the prior three months.

In intraday dealings on Thursday, shares of IRB Infrastructure Developers fell 4% to Rs 306 on the BSE after the business announced that its board had approved a stock split in the ratio of 1:10, or one stock with a face value of Rs 10 into ten shares with a face value of Re 1 each equity share. The company stated in an exchange filing that it will notify shareholders of the record date for the stock split in due course.

“To enhance the liquidity in the capital market, to widen shareholder base and to make the shares more affordable to small investors, the board approved stock split,” IRB Infra said on rationale behind the split. Subject to required clearances, the company said it would conclude its corporate action on or before February 28, 2023.


“With the mindset of further rewarding and accommodating small shareholders in the value accretive journey of the company, we thought it necessary to effect the above stock split to have a sizeable participation from this segment of investors in the company’s unfolding growth journey,” Virendra D. Mhaiskar, Chairman & Managing Director of IRB Infra said.

The parent company and two InvITs of IRB, the largest integrated private toll roads and highways infrastructure developer in India, with a combined asset base of more than Rs 60,000 crore spread over 10 States. With 22 road projects, including 17 BOT, 1 TOT, and 4 HAM projects, now included in IRB Group’s project portfolio (including Private and Public InvIT), 13 Concessions have been successfully completed and handed over to the nodal agencies.

Against today’s dip, IRB Infra’s stock has increased by 12% over the past month despite a 3.6% decline in the S&P BSE Sensex. It increased by 45% over the last three months compared to the benchmark index’s 4% growth. On December 14, 2022, the stock’s 52-week high of Rs 329 was reached. On October 25, 2021, it reached an all-time high of Rs 347.