GMR Infrastructure has received an approval from its shareholders to raise up to Rs 2,500 crore via multiple instruments. It will help the company to reduce corporate debt which is at Rs 4,500 crore and also to infuse equity into another power project in India in Chattisgarh.
The company also enhanced its authorised share capital from Rs 750 crore to Rs 1,950 crore to make a preferential allotment to a group of private equity investments led by Singapore-based Temasek and India's IDFC Group.
GMR Infrastructure is a Bangalore headquartered global infrastructure major with interests in Airports, Energy, Highways and Urban Infrastructure sectors. It has successfully employed the public-private partnership model to build a portfolio of high quality assets.