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GMR Infrastructure rises on getting nod to raise Rs 2,500 crore via multiple instruments

21 Mar 2014

GMR Infrastructure is currently trading at Rs. 21.70, up by 0.10 points or 0.46% from its previous closing of Rs. 21.60 on the BSE.

The scrip opened at Rs. 21.60 and has touched a high and low of Rs. 22.00 and Rs. 21.60 respectively. So far 105289 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 25.35 on 01-Jan-2014 and a 52 week low of Rs. 10.65 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 22.10 and Rs. 20.50 respectively. The current market cap of the company is Rs. 8446.58 crore.

The promoters holding in the company stood at 71.70% while Institutions and Non-Institutions held 19.29% and 9.02% respectively.

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.


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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323