IL&FS Transportation Networks looks to raise Rs 5K cr via NCDs

IL&FS Transportation Networks is looking to raising up to Rs 5,000 crore through issuance of non-convertible debentures.

"A meeting of the Board of Directors is scheduled for September 13, 2016...To consider fund raising by way of public issue of secured or unsecured redeemable non-convertible debentures aggregating up to Rs 5,000 crore," IL&FS Transportation Networks Ltd said in a BSE filing.

IL&FS Transportation Networks Ltd was formed in 2000 as a wholly owned subsidiary of Infrastructure Leasing and Financial Services Limited (IL&FS), which has been a major player in India in Infrastructure development and financing for the last 25 years.

Transportation infrastructure development was initially taken up in IL&FS and thereafter the transportation vertical IL&FS Transportation was formed wherein the projects undertaken and implemented by IL&FS were domiciled.