GMR Infra Board Approves Allotment of Rs 567-Crore Warrants
New Delhi: GMR Infrastructure's board has approved issuance of warrants worth Rs 567 crore to promoter entity GMR Infra Ventures LLP.
Out of the total amount, about 25 per cent, or Rs 141.75 crore, has already been received by the company, GMR Infrastructure said in a regulatory filing on Tueday.
"...the balance amount will be received upon exercising the right to subscribe equity shares against the said warrants within 18 months from the date of allotment i.e. on or before February 25, 2016," it noted.
These 18 crore warrants, priced at Rs 31.50 apiece, carry an option to apply for and be allotted equivalent number of equity shares.
The allotment was approved by the management committee of GMR Infrastructure's board of directors during their meeting held on this day.
GMR Infra Ventures LLP is part of the promoter group.
Shares in GMR Infrastructure, on Tuesday, gained marginally to end at Rs 25.10 on the BSE.
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