India’s GMR Infrastructure board OKs Rs. 29.5 billion debentures

By Sarah Lizee

Olympia, Wash., Aug. 15 – GMR Infrastructure Ltd. informed the Bombay Stock Exchange that its board of directors met on Tuesday and approved proposals to raise funds.

The board approved raising up to Rs. 25 billion of equity shares, equity-linked instruments, debentures or any other securities, according to the notice.

The board also approved raising up to Rs. 4.5 billion through optionally convertible debentures.

The securities will be issued in one or more tranches, the company said.

GMR Infrastructure is a holding company based in Bangalore, India.

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