Stocks

Financial closure bodes well for IRB Infra

| Updated on January 08, 2018 Published on October 16, 2017


IRB Infrastructure Developers has achieved financial closure for ₹2,090-crore worth highway project in Rajasthan. The infrastructure maker said the special purpose vehicle has tied up with a consortium of lenders led by State Bank of India. The total cost of the project is ₹2,090 crore and the company will infuse sponsor contribution, including internal accruals of ₹690 crore; the balance ₹1,400 crore will be at an average cost of 10.25 per cent per annum.

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Published on October 16, 2017
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