Shares of IL&FS Transportation Networks today rose by nearly 5 per cent as the company plans to raise Rs 425 crore through issuance of non-convertible debentures.
The stock climbed 4.81 per cent to settle at Rs 71.90 on BSE. During the day, it surged 7.79 per cent to Rs 73.95.
At NSE, shares of the company jumped 4 per cent to close at Rs 71.65.
"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 said in a regulatory filing yesterday.
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.
