scorecardresearch
Clear all
Search

COMPANIES

No Data Found

NEWS

No Data Found
Sign in Subscribe
GMR Infrastructure seeks Sebi nod for Rs 1,500 crore rights issue

GMR Infrastructure seeks Sebi nod for Rs 1,500 crore rights issue

The company said that it "has received in-principle approvals from the BSE and the NSE for listing the equity shares to be allotted pursuant to the issue".

Photo: Reuters Photo: Reuters

GMR Infrastructure has sought market regulator Sebi's clearance to raise up to Rs 1,500 crore through a rights issue.

The company would issue equity shares for an aggregate amount "not exceeding Rs 1,500 crore on a rights basis" to its shareholders, a draft letter filed by the firm with Securities and Exchange Board of India (Sebi) showed.

Related Articles

In a rights issue, shares are issued to existing investors as per their holding at a pre-determined price and ratio.

The funds raised from the issue would be utilised towards repayment of certain borrowings availed by GMR Infrastructure, investment in its subsidiary - GMR Energy - as well as for general corporate purposes, the company said in the draft offer letter.

JM Financial Institutional Securities, Axis Capital, ICICI Securities and SBI Capital Markets are the lead managers to the issue. Karvy Computershare is the registrar to the issue.

The company said that it "has received in-principle approvals from the BSE and the NSE for listing the equity shares to be allotted pursuant to the issue".

GMR Infrastructure has interest in sectors such as airports, roads, power plants and urban infrastructure.

For the year ended March 31, 2014, the consolidated income of the company from operations stood at about Rs 10,567 crore.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Sep 22, 2014, 8:47 PM IST
×
Advertisement