IVR Prime raises Rs 150 cr for infra projects
IVR Prime Urban Developers today said it has raised Rs 150 crore by issuing debentures on private placement basis to invest in infrastructure projects.
The company on March 10 has alloted 1,500 secured redeemable non-convertible debentures of Rs 10 lakh each for cash aggregating to Rs 150 crore, on private placement basis, IVR Prime Urban Developers said in a filing to the Bombay Stock Exchange (BSE).
The issue is being made to meet fund requirements for the business activities of the company, including downstream investments into infrastructure projects, the filing added.
Shares of IVR Prime Urban Developers were trading at Rs 174.85 on the BSE, down 2.73 per cent from previous close.