IRB Infrastructure Developers gains after its SPV raises Rs 700 crore through NCDs
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IRB Infrastructure Developers is currently trading at Rs. 290.50, up by 1.35 points or 0.47% from its previous closing of Rs. 289.15 on the BSE.
The scrip opened at Rs. 292.10 and has touched a high and low of Rs. 292.50 and Rs. 289.25 respectively. So far 45919 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 329.30 on 14-Dec-2022 and a 52 week low of Rs. 179.05 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 300.40 and Rs. 261.65 respectively. The current market cap of the company is Rs. 17467.81 crore.
The promoters holding in the company stood at 34.20%, while Institutions and Non-Institutions held 55.46% and 10.34% respectively.
IRB Infrastructure Developers’ special purpose vehicle -- Udaipur Tollway has raised Rs 700 crore through issuance of redeemable non-convertible debentures (NCDs) on a private placement basis. The NCDs proceeds from refinancing would be utilised for part takeout financing of the existing project loans obtained and provide significant saving of over Rs 100 million annually at revised interest cost of nearly 8.9 per cent.
Earlier, the company had re-financed its two SPVs under the private InvIT arm (through private placement of listed NCDs), viz Solapur Yedeshi Tollway and Yedeshi Aurangabad Tollway.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
