GMR Infrastructure to consider raising upto Rs 5000 Crores

GMR Infrastructure Ltd has announced that the Board of Directors of the Company at its meeting held on October 18, 2007, inter alia, has considered and approved the proposal to raise funds subject to the approval of RBI or any other statutory authorities that may be required, and subject to the approval of members, to issue Foreign Currency Convertible Bonds ("FCCBs") or such other financial instruments, which may be converted into equity shares, Global Depository Receipts, American Depository Receipts or any other type of instruments of an aggregate amount not exceeding Rs 5000 Crore or equivalent thereof in one or more foreign currency and / or Rupees, in such manner, terms and conditions as may be decided by the Board.

The stock closed the day at Rs.159.70, down by Rs.7.35 or 4.40%. The stock hit an intraday high of Rs.175 and low of Rs.155.50.

The total traded quantity was 2188653 compared to 2 week average of 2488181.

Source : Equity Bulls

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