IRB Infra’s board raises fund raising limit to Rs 5,500 cr

IRB Infrastructure Developers on Tuesday said that its board of directors has increased the fund-raising limit from Rs 4,500 crore to Rs 5,500 crore.

“The Board of Directors of the company on February 9, 2021 has approved the proposal of increasing the limit of raising of funds through various options including by way of issuance of debt securities, non-convertible debentures etc, through permissible routes,” the company said in a regulatory filing.

The fund would be raised in the in the onshore or offshore market and by public issue or on private placement basis.

Shares of IRB Infra were trading at Rs 111.20, higher by Rs 2.15 or 1.97 per cent from its previous close.