The company plans to raise this amount via global depository receipts(GDRs) or through qualified institutional placement. E Sudhir Reddy, vice-chairman and managing director of IVRCL said the company would raise the amount when a build-operate-transfer (BOT) project is received.
The decision would be approved during a meeting of the company to be held on August 3, 2006. IVRCL is involved in works worth Rs 70 bn. The company had recently bagged an order valued at Rs 5.57 bn from the irrigation and command area development department of the Andhra Pradesh government.
