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GMR Infrastructure to seek shareholders nod to raise Rs 5,000 crore

GMR Infrastructure to seek shareholders nod to raise Rs 5,000 crore
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GMR Infrastructure to seek shareholders nod to raise Rs 5,000 crore

Highlights

GMR Infrastructure will seek its shareholders’ approval to raise up to Rs 5,000 crore through securities, in its annual general meeting on September 21.

GMR Infrastructure will seek its shareholders' approval to raise up to Rs 5,000 crore through securities, in its annual general meeting on September 21.

In a regulatory filing on Sunday, GMR Infrastructure Limited has informed the Exchange regarding 24th Annual General Meeting (AGM) will be held on September 21, 2020, through Video Conferencing. The company said that it plans to raise the funds in one or more tranches.

The filing read, "Pursuant to the Regulation 29(1)(d) of SEBI LODR, the approval of the shareolders is being sought for raising of funds up to Rs 5,000 Crore in one or more tranche(s), through issue of securities as per the requirements of applicable laws, as an enabling resolution."

It added, the register of members and share transfer books of the company will remain closed from Monday, September 14, 2020, to Monday, September 21, 2020 (both days inclusive) for the purpose of Annual General Meeting.

The company had on Thursday announced a composite 'scheme of arrangement' involving a vertical split and demerger of the 'non-airport business'.

The Board of GMR Infrastructure announced the scheme together with other group companies — GMR Power Infra and GMR Power and Urban Infra.

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