GMR Infrastructure has increased its subsidiary companies after GMR Holdings Overseas Spain, S. L. U. and Larkspur Properties became subsidiaries of the company in accordance with the provisions of the Companies Act, 1956.
Recently, GMR Infrastructure was looking to raise $150 million through private equity for its airport arm. The company was in the process of securing final government approvals for the deal, which had already won clearance from the Foreign Investment Promotion Board. It would be difficult for the company to set a timeline for the deal closure.
GMR infrastructure’s business activities involve development of various infrastructure projects in power, airport and SEZ segments.