Ripples Advisory, IRB Infrastructure gains on getting nod to raise Rs 1,500 crore
IRB Infrastructure Developers is currently trading at Rs. 195.50, up by 1.10 points or 0.57% from its previous closing of Rs. 194.40 on the BSE.
The scrip opened at Rs. 195.70 and has touched a high and low of Rs. 195.70 and Rs. 193.15 respectively.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 286.00 on 30-Apr-2018 and a 52 week low of Rs. 184.05 on 19-Jul-2018.
Last one week high and low of the scrip stood at Rs. 203.90 and Rs. 185.10 respectively. The current market cap of the company is Rs. 6832.19 crore.
The promoters holding in the company stood at 57.37%, while Institutions and Non-Institutions held 34.83% and 7.80% respectively.
IRB Infrastructure Developer has received approval to raise funds aggregate amount up to Rs 1,500 crore through issue of securities including but not limited to Equity Shares, American Depository Receipts/Global Depository Receipts / Foreign Currency Convertible Bonds (FCCBs) and/or Non-Convertible Debentures (NCDs) along with warrants and/or any securities convertible into Equity Shares through public and/or rights issue and/or private offerings and/or on preferential allotment basis, including to qualified institutional buyers by way of Qualified Institutions Placement (QIP).
The Board of Directors of the company at their meeting held on July 25, 2018, approved the same.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
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