KNR Constructions, Hyderabad-based infrastructure company has got shareholder nod to increase the borrowing power of the company to Rs 2,000 crore. It has taken this initiative to facilitate working capital and funding requirements for ongoing and pipeline projects.
Recently, company has achieved financial closure for Rs 627 crore road project in Bihar being executed by its subsidiary, KNR Muzaffarpur Baruni Tollway. The KNR management also diluted 49% stake in road the subsidiary inducting JKM Infra Projects, a Delhi-based infrastructure company. The company’s shares closed the day down 0.17% at Rs 119.25.
