Trend

Piling up bitumen

With IRB InvIT at a 52-week low, chairman Virendra Mhaiskar buys 7.5 million units worth ₹570 million

Ever since listing, IRB InvIT has only slid south. Q4FY18 was particularly bad. Post the intense selling, chairman and managing director of IRB Infra Virendra Mhaiskar bought 125,000 units for around Rs 9.8 million. When this market purchase was brought up by an analyst during the Q4FY18 concall, Mhaiskar said, “I personally believe that the price is in deep value and whatever little liquidity I had I have used it to buy units... IRB has also bought units worth Rs 500 million in last two months.”