IRB Infrastructure Developers said on Wednesday it has received approval from its Management Administration and Share Transfer Committee (MAS Committee) to issue additional USD-denominated notes totaling up to $200 million, maturing in 2032.

The decision, announced on October 9, 2024, is contingent on meeting procedural requirements, including the issuance of offering circulars. IRB said it will provide more details on the debt issue at the time of its allotment.

The company emphasised that the offering memorandum related to these securities has not been registered or approved by Indian regulatory authorities and is not available for public sale within India.

IRB Infrastructure Developers had reported a 4.7% jump in net profit to ₹140 crore for the June quarter. Its revenue went up by 13.4% from the year-ago quarter to ₹1,852.9 crore. The company had reported revenue of ₹1,634.2 crore during the same period last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 10.2% from the same quarter last year to ₹857 crore. The EBITDA margin narrowed marginally to 46.25% from 47.6% last year.

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