IL&FS Transportation Networks (ITNL) has received its board approval to issue debentures worth of Rs 100 crore via private placements. The company’s Committee of Directors has approved the allotment of 1,000 rated, listed, redeemable, non-convertible debentures of the face value of Rs 10 lakh each aggregating to Rs 100 crore. These debentures will be listed on the NSE.
Earlier, the company announced an issue price at Rs 100 per share for the proposed rights issue. The company plans to mobilize about Rs 550 crore by issuing 52.4 million equity shares.
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.