GMR Infra to raise Rs 3,900cr

The board of directors of GMR Infrastructure has approved the issue of 165,238,088 equity shares of Rs 2 each at Rs 240 per share aggregating Rs 3,965.71 crore.

According to a release issued by GMR to the BSE today, the issue price is above the floor price calculated in accordance with clause 13A.3 of the Sebi guidelines.

"Citigroup Global Markets India, JM Financial Consultants, J P Morgan India, Kotak Mahindra Capital Company, Lehman Brothers Securities and UBS Securities India acted as joint book runners for the issue,"the release added.