GMR Infra to list on Aug 21

GMR Infrastructure will be listed on the BSE and the NSE on August 21.

The company has fixed the issue price at Rs 210 per share.

The issue, which was subscribed 6.68 times, had opened for subscription on 31 July, 2006 and closed on 4 August, 2006.

According to a release issued by the company today, GMR Infrastructure proposes to use the proceeds from the fresh issue for investment in various infrastructure special purpose vehicles.

"GMR Infrastructure has placed 2.89% of the post-issue equity with ICICI Venture for Rs. 250 crore, 1.11% with Citigroup Venture Capital for Rs 99.17 crore, 0.75% with George Soros promoted Quantum Fund for Rs 67.25 crore and 0.30% with Punjab National Bank for Rs 27 crore.

"While Citigroup, Quantum and PNB had picked the stake at Rs 270 per share, ICICI Venture bought shares at Rs 261 per share. Infrastructure Development Finance Corporation (IDFC), which had also invested in the company, will hold 3.55% of the post issue capital," the release added.