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ONGC to draw down on reserves to meet CAPEX needs Latin America beckons India for investments LANCO opens negotiations with buyers for Karnataka power plant While MoTown is on a tailspin, the telecom sector is staging a rally Aircraft lessors to get protection from defaulting airlines Lanco to sell Australian acquisition Vodafone to buy out minority shareholders Capital Notes Infosys not to cut prices Urja Sangam in Delhi Fox Star Studios to tie-up with Bolly-wood and Kollywood Jet-Etihad Rs 2000 plus crore deal to be cleared Canada screams over IT outsourcing to India Hunt for new finance secretary on... Flipkart India in the red by Rs 280 crore How important is Modiís German visit... Trends point to a hung assembly Renault revving up small car launch Airlines hit by service tax on lease GMR to raise US $ 250 mn thru QIP Automobile sector in slump... Kolkata kisses goodbye to Ambi? Singapore Airlines prefers Airbus German envoy Steiner caps a language row Vodafone slapped with tax notice of Rs 3700 crore Smartphone prices may change Wal-Mart studying FDI norms post split with Bharti TVS bullish on the two wheeler market? TCS, Indiaís biggest block buster Excise duty may halt the war in SUV market SpiceJet in the news again Hyundai Grand i10 awaiting launch Plans to double trade with Latin America Carlyle invests in Trehanís Medanta Medical Centre
 
GMR to raise US $ 250 mn thru QIP

Bengaluru-based GMR has planned to raise $ 250 million (about Rs 1500 crore) through a qualified institutional placement (QIP). It follows the group’s plans to sell shares from GMR Energy Ltd. It has to file a draft proposal for GMR Energy with the capital market regulator SEBI by this month end.

GMR group hopes to sell shares at a time when the demand for such assets has shot up among the investors whose sentiments have risen high since the election of Modi’s government at the Centre with hopes of accelerated economic growth.

The GMR group has decided to sell some of its assets, restructure its capital base and reduce its debt. Ever since infrastructure stocks had been recalibrated in the last few months, GMR’s move to sell shares or assets seems well guided.

 

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