GMR group to raise $100 mn in PE

GMR Group is looking to raise an additional $100 mn in private equity for its unlisted power business, a top official said on Monday.

"As part of the private equity of GMR Energy another $100 million we are planning to raise," Group Chief Financial Officer Subbarao Amarthaluru told Reuters.

It may take up to one and a half months for the private equity deal to be completed, he said.

GMR Energy had raised $200 million in private equity from Temasek Holdings in early April, while the group flagship GMR Infrastructure raised $315 million last week from share sale to institutions.