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


Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236