IRB Infrastructure Developers Ltd to raise upto Rs. 1500 crores

The Board of Directors of IRB Infrastructure Developers Ltd at its meeting held on November 05, 2014, has considered various fund raising options and approved the enabling special resolution for the purpose of further issue of securities for an amount not exceeding Rs. 1,500 Crores subject to the approval of the Shareholders of the Company and all the requisite approvals as may be required from regulatory authorities and in accordance with the provisions of the applicable laws.

The Board also considered and approved enabling special resolution for increase in borrowing powers of the Company pursuant to section 180(1 )(c) of the Companies Act, 2013.

Accordingly, the Board of Directors of the Company has approved Postal Ballot to be conducted in accordance with the provisions of Section 110 of the Companies Act, 2013 read with the Companies (Management and Administration), Rules, 2014 for above mentioned special resolutions for approval of the Members of the Company.

Shares of IRB INFRASTRUCTURE DEVELOPERS LTD. was last trading in BSE at Rs.260.75 as compared to the previous close of Rs. 254.7. The total number of shares traded during the day was 492829 in over 11074 trades.

The stock hit an intraday high of Rs. 264.1 and intraday low of 252.25. The net turnover during the day was Rs. 128087318.

Source : Equity Bulls

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