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IRB Infrastructure Developers’ arm achieves financial closure of Rs 1,400 crore

28 Jul 2015 Evaluate

IRB Infrastructure Developers’ wholly-owned subsidiary - Kaithal Tollway, has achieved financial closure in terms of the concession agreement executed with NHAI, by tying up of Project finance of Rs 1,400 crore.

The total cost of this project is Rs 2,290 crore, out of which Viability Gap Funding from NHAI will be Rs 234 crore, equity contribution by the company will be approximately Rs 656 crore and remaining will be funded through Project finance of Rs 1,400 crore. The average cost of debt of this Project finance is approximately 11.75% per annum. The concession period for the project is 27 years.

A consortium of Lenders comprising of IDBI Bank - Lead Institution, India Infrastructure Finance Company (IIFCL), IDFC, Indian Overseas Bank, Union Bank of India, Bank of Baroda, Canara Bank and Bank of Maharashtra have financed this project.



IRB Infra.&Developer Share Price

21.43 -0.24 (-1.11%)
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Peers
Company Name CMP
Larsen & Toubro 3973.60
Rail Vikas Nigam 305.00
NCC 169.85
KEC International 598.10
Kalpataru Projects 1274.45
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