| Log in

GMR Infra To Raise Rs 1,000Cr Via Pref Issue

27 October, 2009

GMR Infrastructure, which owns prized assets such as the Delhi and Hyderabad airport projects, said it will raise Rs 1,000 crore through an issue of preference shares.

The Bangalore-based infrastructure major’s fresh capital-raising plan after its aborted attempt at moping up Rs 2,000 crore through a QIP issue earlier this year.

GMR Infra reported a 40% decline in net profit to Rs 53.6 crore for the second quarter ended September 30, 2009. The share price of the firm fell by over 7% today to Rs 64, and was trading at Rs 66.8 at 2 pm today.

At the current market capitalisation of about Rs 25,000 crore, GMR Infra could end up diluting around a 4% stake. Since the firm has now opted for a preferential issue in place of a qualified institutional placement (QIP), it is likely to explore the private equity route.

India’s infrastructure is one of the key sectors that is attracting foreign fund inflows and is leading fresh issues in the market. Some of the major IPOs since the market opened up have from the sector like Adani Power, NHPC and Indiabulls Power.

GMR Infra has also raised private equity funding in the past at both the entity and project level. Some of the investors in the firm include IDFC Private Equity, ICICI Venture and Citi Venture Capital International.


Leave Your Comment
GMR Infra to raise around $410M via multiple instruments

GMR Infra to raise around $410M via multiple instruments

Anuradha Verma 3 years ago
PE-backed GMR Infrastructure Limited is looking to raise around Rs 2,500 crore ...
GMR Infra opens QIP

GMR Infra opens QIP

Bhawna Gupta 3 years ago
GMR Infrastructure Ltd has opened its qualified institutional placement (QIP)...
GMR Infra to raise up to $246M via rights issue to shareholders

GMR Infra to raise up to $246M via rights issue to shareholders

Anuradha Verma 3 years ago
PE-backed GMR Infrastructure Limited has obtained its board’s approval to...
No Comments

GMR Infra To Raise Rs 1,000Cr Via Pref Issue

Powered by WordPress.com VIP