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For GMR Infra rights issue, GMR Holding ties up Rs 1,250 crore

GMR Infrastructure said on Monday that its parent company GMR Holding has completed financing arrangement for the purpose of its rights issue and had tied up Rs 1,250 crore to fund it.

GMR Infrastructure in a filing to the BSE said,”GMR Holdings Private Limited has secured funding of Rs 1,250 crore from KKR Capital Markets India Private Limited and its co-investors and definitive documents in this regard have already been executed.

“The funding arranged constitutes about 89.17 per cent of the size of the rights issue”, filing said.

“Of the total Rs 1,250 crore, an amount of Rs 1,130 crore has already been drawn and balance is expected to be drawn shortly,” it has added.

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