GMR Infrastructure today said its board has approved raising up to Rs 2,500 crore through issue of securities.
The proposal was approved as an enabling resolution by the company's shareholders at the annual general meeting held in September 2014.
"The Board of Directors approved the rollover of the resolution passed at the Annual General Meeting held on September 18, 2014 for raising funds through issue of equity shares/equity linked instruments, debentures or any other securities up to an amount of Rs 2,500 crore, as an enabling resolution," the company said in a regulatory filing.
GMR Infrastructure's consolidated net loss narrowed to Rs 429.45 crore for the June quarter.
It had reported a net loss of Rs 593.2 crore a year ago.
GMR Infrastructure's net sales in the quarter under review rose to Rs 2,928.22 crore, up 8.47 per cent, as against Rs 2,699.38 crore in the same quarter a year earlier.
