IRB Infrastructure Developers has received an approval for the issuance of Secured, Redeemable, Unlisted Non-Convertible Debentures (NCDs) amounting to Rs 1,400 crore on a private placement basis, being proposed to be allotted in one or more tranches/series, to eligible investors permitted to invest in NCDs under applicable law.
The Board of Directors of the company at their meeting held on December 06, 2019, approved the same.
The Board further authorized the Management Administration and Share Transfer Committee (MAS Committee) of the Board to allot NCDs to eligible investors and to take all such steps which are incidental and ancillary to the issuance of the NCDs.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
