Sunday , October 17 2021

IRB Infrastructure shines after its SPV receives Aerodrome License from DGCA

IRB Infrastructure Developers is currently trading at Rs. 176.65, up by 5.70 points or 3.33% from its previous closing of Rs. 170.95 on the BSE.

The scrip opened at Rs. 176.40 and has touched a high and low of Rs. 179.10 and Rs. 171.75 respectively. So far 55729 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 189.50 on 16-Jul-2021 and a 52 week low of Rs. 97.75 on 22-Dec-2020.

Last one week high and low of the scrip stood at Rs. 184.45 and Rs. 167.30 respectively. The current market cap of the company is Rs. 6210.12 crore.

The promoters holding in the company stood at 58.46%, while Institutions and Non-Institutions held 27.94% and 13.60% respectively.

IRB Sindhudurg Airport, a SPV of IRB Infrastructure Developers, has received Aerodrome License from the Director General of Civil Aviation (DGCA). The Aerodrome License will now enable the company to throw open the new aviation facility for Airlines and general public. The DGCA in the license issued the Company states, the license authorizes the Aerodrome to be used as regular place of landing and departure to all persons on equal terms and conditions by aircraft requiring specifications of runway and associated facilities including granted exemptions equal to or less than those indicated in the Aerodrome Manual.

Sindhudurg Airport with the cost outlay of approximately Rs 800 crores and concession period of above 90 years is the first of its kind in the South Konkan Region, which is aimed at establishing and enhancing air connectivity of the region with Western Maharashtra; Southern States; Mumbai and subsequently to all regions of the Nation. The Airport will not only generate the passenger traffic, but also it will be a boon for economic development of the region as it will facilitate and boost cargo transportation; generate direct as well as an indirect employment and other business opportunities for the local people.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

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