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GMR Infrastructure’s stepdown subsidiary GMR Bajoli Holi Hydropower Pvt Ltd (and a subsidiary of GMR Energy) has raised ₹225.60 crore from TNB Topaz Energy SDN Bhd, a wholly-owned subsidiary of Tenaga Nasional Berhad. The proceeds (raised through compulsorily convertible debentures) would be used for the construction of 180-MW Bajoli Holi hydroelectric project, Himachal Pradesh. The project is under advanced stage of construction.
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