GMR Infra To Raise Rs.960Cr For Road Projects

GMR Infrastructure may raise funds from Private Equity investors for it's highway projects.

GMR has bid for a 555Km highway project connecting Ahemadabad to Kishangarh. If it wins the bid, GMR will have to infuse Rs1,750Cr equity for the Rs7000Cr NHAI project as this projects traditionally work on 75:25 debt equity ratio. It may raise upto Rs960Cr from PE funds to infuse equity in various road projects.

GMR Group has raised about Rs1300Cr through the PE routes for it's airport, power and other business divisions. Investors include Macquarie-SBI Infrastructure Fund, Standard Chartered Private Equity Limited, India Development Fund, Citi Venture Capital International and IDFC Project Equity among others.