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NHPC on Thursday said its shareholders have approved the proposal to raise ₹2,000 crore via issuance of non-convertible debentures on private placement basis. The special resolution to authorise the board to raise ₹2,000 crore was passed by the requisite majority, NHPC said in a BSE filing. Besides, the shareholders approved the proposal for payment of final dividend at the rate of 1 per cent on the paid-up equity share capital, that is 10 paise per equity share. The stock of NHPC gained 0.19 per cent at ₹26.90 on the BSE.
IRB Infrastructure Developers will sell its entire stake in IRB Pathankot Amritsar Toll Road to IRB InvIT Fund for ₹540 crore. IRB InvIT Fund is an infrastructure investment trust sponsored by IRB Infrastructure Developers. The board of directors of both the companies have approved the stake-sale. Modern Road Markers Pvt Ltd, a subsidiary of IRB Infrastructure Developers, will also transfer its stake to the InvIT Fund. IRB Pathankot Amritsar Toll Road had contributed 2 per cent towards the consolidated topline and 6 per cent to the consolidated net worth of IRB Infrastructure Developers in 2016-17. The enterprise value of the toll road is around ₹1,570 crore and this will be the seventh project under the infrastructure trust fund post the stake sale. Shares of IRB InvIT Fund closed down 0.04 per cent at ₹93.93 while those of IRB Infrastructure Developers closed up 7.7 per cent at ₹221.90 on the NSE.
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