Block deals today: IRB Infrastructure, RR Kabel and KFin Technologies; shares react

A couple of stocks including IRB Infrastructure Developers Ltd, RR Kabel Ltd and KFin Technologies Ltd were on investor radar in Thursday's trade amid reports of block deals on the counters. At 9.15 am, shares of IRB Infra were trading 11.95 per cent lower at Rs 64.05. RR Kabel was up 3.47 per cent at Rs 1,777.80. Shares of KFin Technologies Ltd were down 3.89 per cent at Rs 715.10.

In the case of wire and cable manufacturer RR Kabel, PE firm TPG Asia is reportedly selling its entire stake worth raise Rs 957 crore ($114.9 million), ET reported. A present, TPG Asia owns a 5 per cent stake in RR Kabel as of the end of March quarter, according to exchange filings.
As per the report, sellers have put up 56 lakh shares for sale with a floor price of Rs 1,700 per share. IIFL Securities is the banker for the deal.

In the case of IRB Infra, promoter and promoter group entities namely Deepali Virendra Mhaiskar and IRB Holding Private are expected to offload 4 per cent stake in the company, raising Rs 1,512 crore. As per ET, the sellers have put up 24 crore shares for sale with a floor price of Rs 63-72.70 per share, representing a 13 epr cen discount on the lower range compared to the closing price on Wednesday.

Meanwhile, KFin Technologies could see General Atlantic Singapore selling up to 6.8 per cent equity in at an estimated floor price of Rs 712.5 per share, which is at a 4 per cent discount to Wednesday's closing price.

A CNBC TV18 report suggested that total deal size, including the green shoe option, is 1.17 crore. The base issue size is set at Rs 500 crore and can be upsized to Rs 833.30 crore, the report said. Business Today could not independently verify the reports.