IL&FS Transportation Networks Limited (BSE:533177) announced a private placement of 200,000,000 cumulative redeemable preference shares at INR 20 per share for gross proceeds of INR 4,000,000,000 on September 26, 2013. All securities will be issued on preferential basis.

On the same day, the company has received INR 4,000,000,000 in funding and board of directors has approved the transaction.

On December 23, 2013, the company approved the issuance of 126,450,000 shares. The company has issued 326,450,000 shares for gross proceeds of INR 6,529,000,000.

On January 17, 2014, IL&FS Transportation Networks Limited closed the transaction. The company approved the issuance of 50,000,000 shares. The company has issued 376,450,000 shares for gross proceeds of INR 7,529,000,000 in the transaction.