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Shares of IRB Infra gains 7% after it secures financial closure for Mumbai-Pune Expressway project

India city Mumbai city Pune 2020 Coronavirus
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MUMBAI : Shares of IRB Infrastructure Developers jumped as much as 7.38% on Friday after it has secures ₹6,610 crore financial closure for its Toll-Operate-Transfer project Mumbai Pune Expressway.IRB Infrastructure Developers closed at ₹70.70 up 1.36% from its previous close, while the benchmark index, Sensex gained 1.53% to close at 34731.73.The Expressway is India's single largest concession under the TOT model for tolling and O&M, which commenced from March 1, 2020 and the single largest debt tie-up in Indian roads and highways sector for ₹6,610 crore was closed in stipulated time amidst coronavirus pandemic.The project length is 205.4 km including expressway and section of NH-48, old Mumbai Pune corridor.As a commitment towards the fee.

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