GMR Infra to seek nod to raise up to Rs 2,500 crore

Our Bureau Hyderabad | Updated on August 09, 2019 Published on August 09, 2019

GMR Infrastructure Limited plans to seek nod of shareholders to raise up to ₹2,500 crore in one or more tranches.

A meeting of the board of directors on Thursday decided to secure shareholders’ nod for an enabling resolution. This could be in one or more tranches through issue of equity shares or equity linked instruments, debentures or any other securities.

This also covers the proposed move to raise funds through issue of four optionally convertible debentures (OCDs) of face value of ₹57.41 crore aggregating to ₹229.67 crore.

The board also approved the appointment of Madhva Bhimacharya Terdal as an additional director and Whole Time Director for three years.

Published on August 09, 2019
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