IL&FS Transportation Networks has received an approval for further issue of equity shares of the company for an amount not exceeding Rs 1,000 crore by way of Qualified Institutional Placements / Convertible Bonds, etc. to the eligible investors in accordance with the SEBI (Issue of Capital and Disclosure Requirements), Regulations, 2009 (ICDR Regulations). The board of directors at its meeting held on July 22, 2014 has approved for the same.
The above are subject to the approval of the shareholders of the company and all the requisite approvals as may be required from regulatory authorities and in accordance with the provisions of the applicable law.
Besides, the timing, pricing and exact quantum of equity shares to be issued are to be decided by the Committee of the Board of Directors, mandated for the purpose.
IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.