GMR Infra plans to raise Rs 500 crore through debt

GMR Infrastructure plans to raise up to Rs 500 crore through the issue of unsecured non-convertible debentures on private placement basis, the company said in a filing today.

The Bangalore based infrastructure company with interests in airports, energy and highways, had planned to raise Rs 2,500 crore through a qualified institutional placement (QIP) issue in late 2009, but the plan was aborted due to lack of investors’ interest.

The company, which reported a top line of around Rs 3,500 crore for the period ending December, 2009 has a debt of Rs 13,900 crore under a leverage of 1.62 times.

The company, while upgrading the Delhi international airport and another in Istanbul, is also aggressively involved in increasing power generation capacity of its energy business by four times over the next five years.

The company on Friday announced its energy arm is raising $200 million from Singapore-based Tamasek Holdings.