IRB Infrastructure to raise debt of up to $200 million via bond issue

As per the company's stock exchange filing, the amount is to be raised 'to meet the company's financial requirements'

IRB Infrastructure Developers Limited (IRB Infra) plans to raise up to $200 million in debt through the issuance and allotment of foreign currency-denominated notes, including USD-denominated bonds or other debt securities, according to the company’s stock exchange filing.

The company stated that it intends to avail term loans from financial institutions “to meet its financial requirements.” Additionally, the company may create security, as deemed necessary by the board, to secure the debt securities and enter into hedging contracts when required, as permitted by the Reserve Bank of India.

The company’s board of directors approved the proposal at a meeting held on Wednesday.

The debt securities may be secured or unsecured, rated or unrated, and may be either unlisted or listed on stock exchanges in India or internationally. The funds may be raised through a public issue or private placement, on a preferential allotment basis, in one or more tranches. Eligible investors include non-resident qualified institutional buyers, financial institutions, banks, non-banking financial companies, incorporated bodies, mutual funds, individuals, trustees, and other entities as permitted by law.

The board also authorised the “Management Administration and Share Transfer Committee (MAS Committee)” to oversee all matters related to the debt raising, including actions incidental and ancillary to the fundraising.

Earlier, the company reported a consolidated income of Rs 1,972 crore and net profit of Rs 140 crore in the first quarter of FY25.