GMR has sold 9 percent stake in GMR Infrastructure for an estimated amount of USD 1 billion through equity sale. The deal was completed on 12th December and the company plans to use the funds for the group expansion plans and for overseas acquisitions.
The stake sale deal which is said to be the country’s largest QIP (Qualified Institutional Placement) transaction will help GMR , becoming a USD 25 billion company in the coming years.
Shares of GMR Infrastructure closed at Rs 243 on the BSE.
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