GMR Infrastructure Ltd allots warrants to Promoter Group Entity GMR Infra Ventures LLP

The Management Committee of the Board of Directors of GMR Infrastructure Limited at its meeting held on August 26, 2014, has approved the allotment of 18,00,00,000 number of Warrants having an option to apply for and be allotted equivalent number of equity shares of face value of Re.1/- each of an aggregate nominal amount of Rs. 18,00,00,000 to M/s. GMR Infra Ventures LLP (forming part of promoter group) at an issue price of Rs. 31.50 per equity share (including premium of Rs. 30.50 per equity share) as determined in terms of Regulation 76 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Company has received Rs. 141.75 Crore from M/s. GMR Infra Ventures LLP, being 25% of the consideration amount for allotment of the said warrants and the balance amount will be received upon exercising the right to subscribe equity shares against the said warrants within 18 months from the date of allotment i.e. on or before February 25, 2016.

Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.25.1 as compared to the previous close of Rs. 25. The total number of shares traded during the day was 1473747 in over 3899 trades.

The stock hit an intraday high of Rs. 25.65 and intraday low of 24.65. The net turnover during the day was Rs. 37059120.

Source : Equity Bulls

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