GMR Power and Urban Infra Ltd extends corporate guarantee to subsidiary

GMR Power and Urban Infra Limited ("Company") has extended Corporate Guarantee to GMR Consulting Services Limited (GCSL), its wholly owned subsidiary, for an amount of Rs. 550 crore in respect of Non-Convertible Debentures issue of equivalent amount by GCSL to Credit Solutions India Trust on private placement basis.

GCSL would utilize the said funds partly towards repayment of external debts of the Group and partly towards investing in new business opportunities.

Source : Equity Bulls

Keywords

GMRPowerandUrbanInfra CorporateGuarantee GMRConsultingServices