Shares of IRB Infrastructure Developers Ltd crashed 10% on 11 June after 41.20 crore shares of the company changed hands via a block deal. 

Around 41.20 crore shares, representing a 6.8% stake in the company, changed hands on the exchanges at an average price of Rs 64.40 per share, taking the total deal value to Rs 2,656 crore. 

The buyers and sellers involved in this deal are yet to be identified. However, Cintra, an affiliate of Dutch infrastructure major Ferrovial, was looking to offload a 5% stake in the company to raise $228 million. 

According to the shareholding data on 31 March, Cintra owns a 24.86% stake in the company. 

Earlier on 30 May, 31.3 crore shares, representing 5.20% stake of the company changed hands in a block deal at an average price of Rs 65 per share, taking the total transaction value to Rs 2,033 crore. 

Last week, the company also reported a 30% year-on-year increase in toll collections to Rs 536 crore in May. 

In its quarterly earnings for January-March, the company reported a 45.1% YoY increase in net profit to Rs 188.9 crore from Rs 130.2 crore reported in the same quarter of the previous fiscal year. 

At 1:08 pm, the shares of IRB Infrastructure were trading 5.57% lower at Rs 66.25 on NSE.