IL&FS Transportation Networks (ITNL) is planning to raise around Rs 550 crore through a rights issue, the timing and size of which, will be decided later. In this regard, the company has received its board’s approval for issue of equity shares of the face value of Rs 10 each to the existing shareholders of the company on a rights basis.
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.
