IL&FS Transportation Networks to raise Rs 425 cr via NCDS

IL&FS Transportation Networks Ltd today said that it plans to raise Rs 425 crore through issuance of non-convertible debentures on a private placement basis.
"Committee of Directors had approved on March 30, 2016 the allotment of 4,250 rated, listed, redeemable, non-convertible debentures (the "debentures") of the face value of Rs 10,00,000 aggregating to Rs 425 crore on a private placement basis," IL&FS Transportation Networks Ltd said in a regulatory filing.
IL&FS Transportation Networks had reported a 23.25 per cent jump in consolidated net profit at Rs 159.07 crore for the quarter ended December 31, 2015 on the back of increase in income.

The company had posted a net profit after taxes, minority interest and share of profit/loss of associates at Rs 129.06 crore during the corresponding quarter last fiscal.
Total income from operations saw an increase of 12.11 per cent to Rs 2,190.59 crore for the October-December quarter as against Rs 1,953.88 crore in the year-ago period.
IL&FS Transportation was formed in 2,000 as a wholly-owned subsidiary of Infrastructure Leasing and Financial Services Limited (IL&FS), a player in infrastructure development and financing.

Transportation infrastructure development was initially taken up in IL&FS and thereafter the transportation vertical IL&FS Transportation was formed.
IL&FS Transportation is the largest BOT (build, operate, transfer) road asset owner in India with approximately 13,100 km lanes in its portfolio.

It also has presence in metro rail, city bus services and border check-posts, besides an international footprint covering Spain, Portugal and Latin America with the acquisition of Elsamex SA, a Spain-based highway operations, maintenance and allied services provider.