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