GMR Infra plans to raise Rs 500 cr via debentures

GMR Infrastructure today said it is planning to raise up to Rs 500 crore through private placement of non-convertible debentures. Shares of GMR Infra fell by 2.55 per cent to Rs 70.65 in late afternoon in generally weak trading on the BSE.

GMR is developing, among others, the Delhi international airport and several road projects. 

The company's board of directors has given its approval "to raise funds up to Rs 500 crore through issue of unsecured non-convertible debentures on private placement basis," GMR Infrastructure said in a filing to the Bombay Stock Exchange.

The decision was taken in a board meeting held on December 5, it said.