GMR Infra arm raises Rs 2,000 crore through NCDs

Hyderabad: GMR Infrastructure on Friday said its arm GISL has raised Rs 2,000 crore through issuance of non-convertible debentures, mainly to retire some of its existing debt.

"The funds have been raised by one of the step-down subsidiary of the company, GMR Infra Services Limited (GISL).

GISL has raised funds of Rs 2,000 crore through issuance of non-convertible debentures (NCDs), in the normal course of its business, primarily to retire some of its existing debt," GMR Infrastructure said.

The company's reply was in response to clarification sought by stock exchanges about a news item which said 'GMR raises debt from Tata-GIC even as planned sale of airport biz pending'.

"We wish to submit that GMR Infrastructure Ltd has not raised any funds from Tata-GIC," the company said.