GMR infrastructures looking for investors
Close on the heels of securing an Rs 1,000-crore long-term loan from global private equity major KKR, GMR Infrastructure said that it is looking at international markets for funds at lower interest rates.
Managing director Kiran Kumar Grandhi said on Thursday at the company’s annual general meeting that the firm will focus on recalibrating its assets to gain confidence of international investors. Grandhi said the company is working on international bonds for low-cost funds.
He added that company is also looking at international pension funds and high net worth families for long term investments in the various infrastructure projects of the company. The company had recently signed an MoU with Japan Bank for International Cooperation (JBIC) for providing financial assistance to Japanese companies investing in GMR’s infrastructure projects.
The companies are looking forward for funds in order to channel these for some of the projects. This plan is being taken forward by the company in order take forward the works of the company to a different level altogether. Whether it will work or not is a different story though.
Source: The Financial Express
