This small-cap firm, planning a stock split, raises Rs 700 crores via NCD

This small-cap firm, planning a stock split, raises Rs 700 crores via NCD

Kaustubh Bhosale
/ Categories: Trending, Mindshare

The existing project loans would be partially refinanced using the proceeds from the NCD refinancing, which would result in a considerable yearly saving of approximately Rs10 crore at the revised interest rate of 8.9 per cent.

The IRB Infrastructure Developers informed that its another subsidiary of IRB Infrastructure Trust, has allocated unlisted, rated, redeemable non-convertible debentures totalling Rs 700 crore on a private placement basis to qualified investors on December 29, 2022. This is part of our ongoing effort to increase return through refinancing of completed projects. The existing project loans would be partially refinanced using the proceeds from the NCD refinancing, which would result in a considerable yearly saving of approximately Rs10 crore at the revised interest rate of 8.9 per cent.  

 

IRB Infrastructure Developers Ltd (IRB) is the first international player in Indian infrastructure in the highways sector. The parent company and two InvITs of IRB, the largest integrated private toll roads and highways infrastructure developer in India, have a combined asset base of about Rs.60,000 crore in 10 States.  

 

The company has a proven track record of building over 15,500 lane kilometres throughout India and has the capacity to build more than 500 kilometres every year. It holds almost 20 per cent of the famed Golden Quadrilateral project in India, the greatest proportion held by a private infrastructure developer in that country.  

 

Keep an eye on this stock in the upcoming sessions.  

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