{"id":240,"date":"2020-04-27T06:40:57","date_gmt":"2020-04-27T06:40:57","guid":{"rendered":"http:\/\/sh026.global.temp.domains\/~qmkgwamy\/taxrodo\/news\/?p=240"},"modified":"2020-04-27T06:40:58","modified_gmt":"2020-04-27T06:40:58","slug":"irb-infra-board-approves-fund-raising-of-up-to-inr-2500-crores","status":"publish","type":"post","link":"https:\/\/taxrodo.com\/news\/business\/irb-infra-board-approves-fund-raising-of-up-to-inr-2500-crores\/","title":{"rendered":"IRB Infra Board Approves Fund Raising Of Up To INR 2,500 Crores"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li>IRB Infra is one of India\u2019s largest highways infrastructure developers<\/li><li>Funds will be utilized for Capex requirements and cash flow mismatches<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"690\" height=\"390\" src=\"https:\/\/taxrodo.com\/news\/wp-content\/uploads\/2020\/04\/IRB-infra.jpg\" alt=\"IRB approves fund raising\" class=\"wp-image-241\" srcset=\"https:\/\/taxrodo.com\/news\/wp-content\/uploads\/2020\/04\/IRB-infra.jpg 690w, https:\/\/taxrodo.com\/news\/wp-content\/uploads\/2020\/04\/IRB-infra-300x170.jpg 300w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><\/figure>\n\n\n\n<p class=\"has-drop-cap\">The Board of Directors of IRB Infrastructure Developers Ltd., India\u2019s one of the largest Highways Infrastructure Developers, has approved fund raising of up to \u20b92,500 Crores to meet ongoing and planned capex requirements and cash flow mismatches of the Company as well as for the general corporate purposes, in wake of COVID-19 arising from the lockdown impact.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>While commenting on the development, Mr. Virendra D. Mhaiskar, Chairman &amp; Managing Director, IRB Infrastructure Developers Ltd. said, <\/p><cite>\u201cWe plan to use these funds to meet payments to creditors, firmed up project expenses as well as the general corporate purposes, during the ongoing lockdown situation due to COVID-19. In view of the Company&#8217;s track record of more than 20 years, in-house capabilities, rich domain expertise and experience, we do not see any difficulty in raising money.\u201d\u00a0<\/cite><\/blockquote>\n\n\n\n<p>The Company\u2019s Board has approved fund raising through appropriate instruments, permitted under the applicable statute, in one or more tranches\/series to the eligible investors, who are allowed to invest in or subscribe to such instruments.&nbsp;<\/p>\n\n\n\n<p>IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India having a strong track record of constructing over 12,600 lane Kms in 2 decades.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IRB Infra is one of India\u2019s largest highways infrastructure developers Funds will be utilized for Capex requirements and cash flow mismatches The Board of Directors of IRB Infrastructure Developers Ltd.,&hellip; <\/p>\n","protected":false},"author":1,"featured_media":241,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[127,124,126,125],"class_list":["post-240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-developers","tag-fund-raising","tag-highways","tag-infrastructure"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IRB Infra Board Approves Fund Raising Of Up To INR 2,500 Crores : TaxRodo Broadcast<\/title>\n<meta name=\"description\" content=\"IRB Infra Board Approves Fund Raising Of Up To INR 2,500 Crores : TaxRodo Broadcast Prvoides Latest Business News, Startup News, Technology News, News About Economy &amp; Nation to Keep You Updated.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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