GMR Group Plans to Raise $1 Billion As it Eyes Turnaround

Infrastructure company GMR Group plans to raise at least $1 billion (Rs 6,672.5 crore at $1 = Rs 66.72) over the next two years to cut debt, repay investors in its airports business and prepare for a new phase of growth, its chief financial officer said on Monday. GMR, which has a net debt of Rs 41,000 crore ($6.2 billion), has held preliminary talks with investors about selling stakes in its airports and energy businesses but is "n...