GMR Infra board to consider raising up to Rs 2,950 cr
GMR Infrastructure Ltd today said its board will consider a proposal for raising up to Rs 2,950 crore through various routes at its meeting on August 14.
In a BSE filing, GMR Infrastructure said it will seek Board approval for raising up to Rs 2,500 crore in one or more tranches through issue of equity shares or equity-linked instruments, debentures or any other securities.
Also, approval is being sought for "raising of funds, up to Rs 450 crore in one or more tranches through issue of optionally convertible debentures (OCDs) under Section 62 (3) of the Companies Act, 2013".
It added that the enabling resolution and resolution for issue OCDs is subject to approval of shareholders.
In a previous filing, GMR Infrastructure had said its Board of Directors is scheduled on August 14 to consider and approve unaudited financial results for the quarter ended June 30, 2018.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.