Palsit Dankuni Tollway Private Limited achieves Financial Closure

Palsit Dankuni Tollway Private Limited - Wholly-owned Subsidiary of IRB Infrastructure Developers Limited ("the SPV"), has achieved financial closure for the Project of Six laning of National Corridor NH-19 from Palsit to Dankuni (up to NH-6 Connector) from km. 588.870 to km. 652.700 (total design length 63.830 km) in the State of West Bengal under Bharatmala Pariyojana to be executed on BOT (Toll) basis.

The project cost is Rs. 2314 crores.

The concession period is 17 Years from the Appointed Date (including Construction Period of 910 days). The Company will get tolling rights on the Project from the Appointed Date.

10.8% premium is payable as a percentage of revenue commencing after one year of actual completion date and increasing annually by 1% thereafter.

Total Senior Debt of Rs. 1,650 Crores has been tied up with the Senior Lenders, and with necessary approvals, Equity contribution will be made by the Company & its Associate viz. IRB Infrastructure Trust (Private InvIT).

Shares of IRB Infrastructure Developers Limited was last trading in BSE at Rs. 248.60 as compared to the previous close of Rs. 237.15. The total number of shares traded during the day was 935873 in over 14071 trades.

The stock hit an intraday high of Rs. 249.00 and intraday low of 237.00. The net turnover during the day was Rs. 230091044.00.

Source : Equity Bulls

Keywords

IRBInfrastructureDevelopers INE821I01014 FinancialClosure SPV