IRB Infrastructure Developers is all set to raise further funds to the tune of Rs 1,200 crore through various instruments.
In its extra ordinary general meeting today, the company accorded to the special resolution for raising of funds not exceeding Rs 1,200 crore by further issue of securites in domestic as well as international markets.
This will include instruments such as equity shares, warrants with non-convertible debentures under qualified institutions placement (QIP). The fund raising instruments also include foreign currency convertible bonds (FCCBs), ADRs and GDRs.
The company also will go for increase in the foreign institutional investors (FIIs) investment limits upto 49 per cent of the paid up capital.
The company will also borrow from one or more sources from time to time notwithstanding that the total amount of borrowings may exceed the aggregate of the paid up capital. It also made it clear that at any point of time, the total borrowings should not exceed Rs 1,500 crore.
On the Bombay Stock Exchange, the company's shares were trading at Rs 263.90, up 0.53 per cent at 1135 IST.