India: IRB Infrastructure Developers to raise $712m from Ferrovial, GIC

India: IRB Infrastructure Developers to raise $712m from Ferrovial, GIC

Mumbai, India. Photo by Hardik Joshi on Unsplash.

IRB Infrastructure Developers Ltd on Tuesday said it will raise up to 5,347 crore, in the largest equity fundraise by an Indian road developer, through a preferential allotment of equity shares to Spain’s infrastructure group Ferrovial S.A. and Singapore state investor GIC.