IRB Infrastructure on Wednesday entered into a definitive agreement with India Toll Roads - Foreign Portfolio Investor to raise about Rs2,220cr through the issuance of non-convertible debentures.
In its regulatory filing today, IRB said that this is to infol1n you that the Company has entered into a definitive agreement with India Toll Roads - Foreign Portfolio Investor, for raising of funds by issuance of non-convertible debentures up to Rs2,220cr subject to the satisfactory completion of procedural conditions.
"The proceeds would be utilised for repayment of existing loans up to Rs1,600cr and balance for meeting Capex requirements and general corporate purposes," IRB said.
At around 3.15 pm, IRB was trading at Rs111.95 per piece up 1.17% on Sensex.