IRB Infrastructure Developers to raise funds

IRB Infrastructure Developers Ltd has announced that the Board of Directors of the Company at its meeting held on October 30, 2009, inter alia, has approved raising of funds by further issue of securities in Domestic / International markets through various instruments including equity shares / warrants with Non-Convertible Debentures under Qualified Institutions Placement (QIP) pursuant to the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as in force or Foreign Currency Convertible Bonds (FCCBs) or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs) etc subject to compliance with related provisions of law and other permissions, sanctions, approvals as may be required.

The Board will Convene the Extraordinary General Meeting on November 25, 2009 to consider & to seek the approval of shareholders for above proposals.

The stock closed the day at Rs.231.40, up by Rs.0.35 or 0.15%. The stock hit an intraday high of Rs.244.80 and low of Rs.228.20.

The total traded quantity was 425435 compared to 2 week average of 544262.

Source : Equity Bulls

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