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IRB Infrastructure Developers today said it will raise Rs 440 crore through an issue of shares to institutional investors.
The shares would be allotted at a price of Rs 230.54 apiece.
“Offering Committee for QIP of the Company ... approved the issue and allotment of 19,085,890 equity shares of face value Rs 10 each to eligible Qualified Institutional Buyers (QIB) at the issue price of Rs 230.54 per equity share, aggregating to Rs 4,400.06 million,” the company said in a filing to BSE.
Further, the paid—up capital of the company increased from Rs 332.3 crore to Rs 351.4 crore, it said.
IRB Infrastructure, undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
The company had earlier said it has tied up finances of Rs 1,756 crore to fund a project with a total cost of Rs 3,177 crore.
“Yedeshi Aurangabad Tollway Pvt Ltd, a wholly—owned subsidiary of the company has achieved financial closure in terms of the concession agreement executed with NHAI by tying up of project finance of Rs 1,756 crore,” the company had said.
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