GMR Infrastructure has approved in the board meeting for a capital raising plan of up to Rs 6,000 crore by issue of securities via qualified institutional placement (QIP) or foreign currency convertible bonds.

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These funds will be raised in one or more tranches, said the company. The airport service provider said that this proposal is subject to the approval of shareholders and other regulatory and/or statutory approvals, as applicable. GMR Infrastructure reported a net loss of Rs 136.98 crore in Q1FY23 as against the net loss of Rs 136.98 crore in Q1FY23 and against a net loss of Rs 252.12 crore in Q1FY22. Net sales rose 83% to Rs 1,253.30 crore in Q1FY23 over Q1FY22. Shares of GMR Infrastructure declined 0.25% to Rs 39.45 on the BSE.

On September 2, 2022, the Board of GMR Infrastructure at its meeting approved the raising of funds of up to Rs 6,000 crore in one or more tranches through the issue of securities including qualified institutional placement and/or foreign currency convertible bonds and/or any other securities.