IL&FS Transportation Networks has announced rights issue worth Rs.3,000 crore.

The company’s board at its meeting held on July 27, approved the proposal for issue of equity shares of face value of Rs.10 each to the existing shareholders on a right basis upto Rs.3,000 crore, subject to all applicable statutory and regulatory approvals. Further, its board meeting is scheduled to be held on August 13, to consider and approve the standalone financial results of the company for the quarter ended June 30, 2018.

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