IRB Infrastructure Developers to raise up to Rs 2,200 crore via NCD issue

Indian rupee banknotes

IRB Infrastructure Developers on Wednesday said it will raise up to Rs 2,220 crore through issuance of non-convertible debentures.

"The company has entered into a definitive agreement with India Toll Roads - Foreign Portfolio Investor, for raising of funds by issuance of non-convertible debentures up to Rs 2,220 crore subject to satisfactory completion of procedural conditions,"IRB Infrastructure Developers said in a regulatory filing.

IRB Infrastructure Developers said the proceeds would be utilised for repayment of existing loans up to Rs 1,600 crore and balance for meeting capex requirements and general corporate purposes.

Shares ofIRB Infrastructure Developers were trading 0.50 per cent higher at Rs 111.20 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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