GMR Infrastructure today said its board of directors has approved raising up to Rs 2,500 crore through issue of securities or foreign currency convertible bonds.
"Board of Directors of the Company at its meeting held on January 24, 2014, has accorded approval for raising of funds through issue of Foreign Currency Convertible Bonds and/ or other securities up to an amount of Rs 2,500 crore through follow on offer, further public offer and/or private placement etc," the company said in a filing to the BSE.
The infrastructure firm in July-September quarter of this fiscal had reported widening of losses to Rs 393.05 crore due to muted revenue growth and 41 per cent rise in finance costs.
Shares of the company today closed at Rs 23.10, down by 1.49 per cent, at the BSE.
