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GMR Infra board to mull fund raising

Capital Market 

The board of infrastructure company at its meeting on Thursday, 27 August 2020, will consider a proposal of raising upto Rs 5000 crore in one or more tranches, through issue of securities.

The board will also consider Q1 results at the said meeting on 27 August 2020. GMR Infrastructure reported a consolidated net loss of Rs 1,126.82 crore in Q4 March 2020 as compared to a net loss of Rs 2,341.24 crore in Q4 March 2019. Net sales in the March quarter rose 3.6% Y-o-Y to Rs 1,947.90 crore.

GMR Infrastructure is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.

Shares of GMR Infrastructure declined 2.57% at Rs 24.65 on BSE. The scrip hovered in the range of Rs 24.30 to Rs 26 so far.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, August 25 2020. 12:24 IST