 "GMR Infra's arm raises Rs 2,000 cr through NCDs to retire existing debts")
GMR Infrastructure on Friday said its arm GISL has raised Rs 2,000 crore through issuance of non-convertible debentures, mainly to retire some of its existing debt.
"The funds...have been raised by one of the step down subsidiary of the company, GMR Infra Services Limited (GISL). GISL has raised funds of Rs 2,000 crore through issuance of non-convertible debentures (NCDs), in the normal course of its business, primarily to retire some of its existing debt," GMR Infrastructure said in a filing to the NSE.
The company's reply was in response to clarification sought by stock exchanges about a news item which said 'GMR raises debt from Tata-GIC even as planned sale of airport biz pending'.
"We wish to submit that GMR Infrastructure Ltd has not raised any funds from Tata-GIC," the company said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app