IRB Infrastructure Developers eyes for Rs 2,220 crore through NCDs

IRB Infrastructure Developers on February 10, said, “It will raise Rs 2,220 crore through issuance of non-convertible debentures (NCDs).

In a filing with the exchange, IRB Infrastructure said, “The company has entered into a definitive agreement with the India Toll Roads – Foreign portfolio Investors for raising of funds by issuance of non-convertible debentures up to Rs 2,220 crore subject to the satisfactory completion of procedural conditions.”

“The proceeds would be utilized for repayment of existing loans up to Rs 1,600 crore and balance for meeting Capex requirements and general corporate purpose,” the filing added.