GMR Enterprises subsidiaries GMR Power and Urban Infra said their boards had approved the issuance of securities to raise to Rs 3,000 crore. The approval was obtained at a board meeting on Thursday.

GMR Power and Urban Infra (GPUIL) said in a BSE filing: “At a meeting held on September 1, the company has approved the raising of up to Rs 3,000 crore.” Funds from eligible investment projects and securities such as foreign currency convertible bonds are issued in one or more batches, subject to shareholder approval and other regulatory approvals.

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GPUIL operates in the energy, urban infrastructure and transportation sectors.