GMR Airports Expands Infrastructure Plans to Raise Rs 5,000 Crore

GMR Airports Infrastructure Ltd on Tuesday said its board will consider raising funds of up to Rs 5,000 crore during the meeting on August 14.

At the meeting, the board will also consider the company’s unaudited financial results for the quarter ended June, according to a regulatory filing.

The board will consider “raising of funds up to Rs 5,000 crore in one or more tranche(s), through issue of securities including a Qualified Institutions Placement and/or Foreign Currency Convertible Bonds and/or any other securities as an enabling resolution as per the requirements of applicable laws which shall be subject to the approval of shareholders and other regulatory and/or statutory approvals, as applicable,” it said.

Among others, GMR Group operates airports in Delhi, Hyderabad and Goa.

Shares of the company rose more than 1 percent to close at Rs 52.11 apiece on the BSE.