IRB Infrastructure Developers Limited has informed the Exchange regarding Notice of Postal Ballot
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On the reaction day the stock moved 1.6 pts less than Nifty Smallcap 250 and 0.7 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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IRB Infrastructure Developers has sought shareholder approval via postal ballot (e-voting from Feb 22 to Mar 23, 2026) on four items. The key item is a bonus issue of equity shares in a 1:1 ratio (one bonus share for every one held), by capitalising up to Rs. 603.90 crore from the securities premium account and other reserves, which would double paid-up capital to Rs. 1,207.80 crore. To support this, the board proposes increasing authorised share capital from Rs. 615 crore to Rs. 1,260 crore. Shareholders will also vote on a material related party transaction worth up to Rs. 1,581.83 crore (Rs. 1,866.55 crore including GST) with IRB Chandibhadra Tollway Pvt Ltd for the TOT-18 highway project in Odisha, equivalent to 20.78% of FY25 consolidated turnover. Additionally, Mrs. Deepali V. Mhaiskar's re-appointment as Whole-time Director for 5 years from May 19, 2026 is on the ballot. Cut-off date for eligibility is February 19, 2026, and results will be announced by March 25, 2026.
The 1:1 bonus issue effectively doubles the share count without changing the company's value, usually leading to a proportional price adjustment. The large related party transaction reinforces order book visibility from IRB's own InvIT, which is supportive of revenue. Shareholders should vote during the e-voting window and watch for the ex-bonus record date once approved.