GMR Infra to seek shareholders’ nod to raise Rs 5,000 cr

Sarkaritel
By Sarkaritel August 31, 2020 08:14


Mumbai, Aug 31  GMR Infrastructure will seek its shareholders’ approval to raise up to Rs 5,000 crore through securities, in its annual general meeting on September 21.

In a regulatory filing on Sunday, the company said that it plans to raise the funds in one or more tranches.

“Pursuant to the Regulation 29(1)(d) of SEBI LODR, the approval of the shareholders is being sought for raising of funds up to Rs 5,000 crore in one or more tranche(s), through issue of securities as per the requirements of applicable laws, as an enabling resolution,” it said.

The company had on Thursday announced a composite ‘scheme of arrangement’ involving a vertical split and demerger of the ‘non-airport business’.

The Board of GMR Infrastructure announced the scheme together with other group companies — GMR Power Infra and GMR Power and Urban Infra.

Sarkaritel
By Sarkaritel August 31, 2020 08:14