GMR Infrastructure receives SEBI approval to raise funds upto Rs 1500 Crore

GMR Infrastructure has received approval from Securities and Exchange Board of India (SEBI) to raise funds upto Rs 1500 crore through rights issue.  The funds raised from the issue would be utilised towards repayment of certain borrowings availed by GMR Infrastructure, investment in its subsidiary - GMR Energy Ltd - as well as for general corporate purposes. In a rights issue, shares are issued to existing investors as per their holding at a pre-determined price and ratio. GMR Infrastructure is a Bangalore headquartered global infrastructure major with interests in Airports, Energy, Highways and Urban Infrastructure sectors. It has successfully employed the public-private partnership model to build a portfolio of high quality assets.