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IRB Infra board approves fund raising

Capital Market 

IRB Infrastructure Developers said its board has approved the allotment of Unlisted, Unrated, Secured, Redeemable, Non- convertible Debentures aggregating to Rs 2,184.55 crore on a private placement basis.

The tenure is 7 years and coupon rate is 9.927% per annum. The Debentures will matu re in February, 2028 pursuant to the Debenture Trust Deed.

The announcement was made after market hours yesterday, 22 February 2021. Shares of IRB Infrastructure Developers fell 1.31% to settle at Rs 105.65 yesterday.

The stock hit a 52-week high of Rs 138.8 on 19 August 2020. The stock hit a 52-week low of Rs 46 on 25 March 2020.

IRB Infrastructure Developers is India's largest private toll roads and highways infrastructure developer, with an asset base of over Rs 51,000 crore across the parent company and two InvITs.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, February 23 2021. 08:58 IST