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Singapore Airlines prefers Airbus While MoTown is on a tailspin, the telecom sector is staging a rally Wal-Mart studying FDI norms post split with Bharti German envoy Steiner caps a language row Vodafone slapped with tax notice of Rs 3700 crore Carlyle invests in Trehanís Medanta Medical Centre Automobile sector in slump... Urja Sangam in Delhi Trends point to a hung assembly Plans to double trade with Latin America Flipkart India in the red by Rs 280 crore How important is Modiís German visit... SpiceJet in the news again Canada screams over IT outsourcing to India Renault revving up small car launch Aircraft lessors to get protection from defaulting airlines GMR to raise US $ 250 mn thru QIP TVS bullish on the two wheeler market? Lanco to sell Australian acquisition Jet-Etihad Rs 2000 plus crore deal to be cleared ONGC to draw down on reserves to meet CAPEX needs TCS, Indiaís biggest block buster Smartphone prices may change LANCO opens negotiations with buyers for Karnataka power plant Hunt for new finance secretary on... Vodafone to buy out minority shareholders Latin America beckons India for investments Fox Star Studios to tie-up with Bolly-wood and Kollywood Capital Notes Hyundai Grand i10 awaiting launch Infosys not to cut prices Airlines hit by service tax on lease Kolkata kisses goodbye to Ambi? Excise duty may halt the war in SUV market
 
GMR to raise US $ 250 mn thru QIP

Bengaluru-based GMR has planned to raise $ 250 million (about Rs 1500 crore) through a qualified institutional placement (QIP). It follows the group’s plans to sell shares from GMR Energy Ltd. It has to file a draft proposal for GMR Energy with the capital market regulator SEBI by this month end.

GMR group hopes to sell shares at a time when the demand for such assets has shot up among the investors whose sentiments have risen high since the election of Modi’s government at the Centre with hopes of accelerated economic growth.

The GMR group has decided to sell some of its assets, restructure its capital base and reduce its debt. Ever since infrastructure stocks had been recalibrated in the last few months, GMR’s move to sell shares or assets seems well guided.

 

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