The company will issue equity shares for an aggregate amount
GMR Infrastructure Ltd will raise up to Rs1,500 crore through a rights issue
Mumbai: GMR Infrastructure Ltd has sought market regulator Sebi’s clearance to raise up to Rs1,500 crore through a rights issue. It would issue equity shares for an aggregate amount “not exceeding Rs1,500 crore on a rights basis” to its shareholders, a draft letter filed by the firm with Sebi showed. In a rights issue, shares are issued to existing investors as per their holding at a pre-determined price and ratio.
The funds raised from the issue would be utilised towards repayment of certain borrowings availed by GMR Infrastructure, investment in its subsidiary GMR Energy as well as for general corporate purposes, the company said in the draft offer letter. JM Financial Institutional Securities, Axis Capital, ICICI Securities and SBI Capital Markets are the lead managers to the issue. It said that it “has received in-principle approvals from the BSE and the NSE for listing the equity shares to be allotted pursuant to the issue”.
( Source : PTI )
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