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GMR Infra's arm raises Rs 2,000 cr through NCDs to retire existing debts

"We wish to submit that GMR Infrastructure Ltd has not raised any funds from Tata-GIC," the company said.

Press Trust of India  |  New Delhi 

GMR
GMR

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, 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," said in a filing to the NSE.

The company's reply was in response to clarification sought by stock exchanges about a item which said 'GMR raises debt from Tata-GIC even as planned sale of airport biz pending'.

"We wish to submit that Ltd has not raised any funds from Tata-GIC," the company said.

First Published: Fri, January 10 2020. 16:00 IST
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