GMR Infra to raise Rs 5,000 cr via QIP

GMR Infrastructure, the flagship company of GMR Group, today said it will raise up to Rs 5,000 crore through private placement of shares in domestic and international markets.      

The board has approved the raising of an amount not exceeding Rs 5,000 crore either through preferential issue or Qualified Institutional Placement (QIP) or private placement of securities, GMR Infrastructure said in a filing to the Bombay Stock Exchange.      

The firm would issue equity shares or American Depository Receipts (ADR) or Foreign Currency Convertible Bonds (FCCBs) for raising of the aforesaid fund.      

Further, the board has also approved the preferential allotment of equity shares to IDFC Infrastructure Fund — India Development Fund, the filing added.      

An extraordinary general meeting of the shareholders would be held on June 9, it added.      

Shares of GMR Infra were trading at Rs 114, down 2.73 per cent in the morning trade on the BSE.