GMR Infrastructure to raise funds upto Rs 5000 crore

GMR Infrastructure Ltd has announced that the Board of Directors of the Company at its meeting held on May 09, 2009, has accorded approval for raising the funds through issue of equity shares / GDRs / ADRs / FCCBs and / or such other securities for an amount not exceeding Rs 5,000 Crore either through preferential issue and / or qualified institutional placement and / or private placement etc.

To issue equity shares on preferential basis for consideration other than cash to IDFC Infrastructure Fund - India Development Fund and for convening Extra Ordinary General Meeting of the members of the Company on June 09, 2009.

The stock was trading at Rs.114.80, down by Rs.2.40 or 2.05%. The stock hit an intraday high of Rs.120 and low of Rs.113.85.

The total traded quantity was 231809 compared to 2 week average of 1447837.

Source : Equity Bulls

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