GMR infra to raise Rs 1,500 cr via rights issue of shares

Bangalore-based GMR Infrastructure on Tuesday announced the company plans to garner Rs 1,500 crore through issue of equity shares by way of rights issue to the shareholders of the company.

“The Board of Directors of the company at its meeting held on September 16, 014, inter alia, has considered and approved, issue of equity shares by way of rights issue to the shareholders of the company for an amount upto Rs 1,500 Crore in aggregate,” GMR Infrastructure said in a filing to Bombay Stock Exchange.

Meanwhile, shares of infrastructure development company tumbled 4.02 per cent to trade at Rs 23.45 apiece on BSE at 12:55 hours.