GMR Infra tanks 7%, co to raise Rs 1400 cr via rights issue

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26 Aug, 2025 12:21

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Moneycontrol Bureau

Shares of GMR Infra slipped 7 percent intraday Monday. The board has agreed to raise Rs 1401.83 crore via rights issue. Issue price is finalised at Rs 15 per equity share.

"The board of directors has finalised to raise Rs 1401.83 crore consisting of 93,45,53,010 fully paid up equity shares of face value of Re 1 each. Issue price is Rs 15 per equity share (including a premium of Rs 14 per equity share)," a company statement said.

Earlier in July, the Bengaluru-based infrastructure had raised Rs 1477 crore through issuing shares to qualified institutional investors.

Dragged by higher finance cost, the company's net loss increased in December quarter to Rs 638.33 crore. Finance cost surged to Rs. 927.56 crore in the third quarter.

At 13:36 hrs GMR Infrastructure was quoting at Rs 17.75, down Rs 1.00, or 5.33 percent on the BSE.

(Posted by Nasrin Sultana)