In a bid to meet its capex needs and repayment of debt, IL&FS Transportation Networks is planning to raise Rs 1,000 crore through issue of preference shares. The company will also use the raised amount for funding capital requirements of subsidies or associate companies or joint ventures and for working capital requirements.
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.
