GMR holdings secures Rs 1,250 Cr funding

Published on March 23, 2015 16:01:56 PM
Business
GMR Holdings, the parent company of GMR Infrastructure has secured funding of Rs 1,250 crore from KKR Capital Markets India and its co-investors and definitive documents have been made to this affect. 

Out of the aforesaid amount, an amount of Rs 1,130 Crore has already been drawn and balance is expected to be drawn shortly.

Promoters intend to utilise the said funding of Rs 1250 Crore for subscribing to the proposed Rights Issue of the Company. This amount represents about 89.17 per cent of the size of the Rights Issue.