IRB Infrastructure has received approval from its board to raise up to ?500 crore by means of private funds. The funds will be raised by issuing redeemable non-convertible debt securities, including senior and subordinate debt securities in one or more tranches. IRB showed a net profit of ?151 crore, as compared to ?120 crore in the same quarter last year while the annual revenue increased 11% from ?884 crore to ?980 crore. The company has standing orders of ? 8,400 crore, out of which orders of ?6,400 crore worth orders are to be executed in the next three years.
