GMR Infra arm raises Rs 225.6 cr in debt


GMR Infra arm raises Rs 225.6 cr in debt
GMR Infrastructure said Monday its step down arm GMR Bajoli Holi Hydropower (GBHHPL) has inked an agreement for investment of Rs 225.6 crore via compulsorily convertible debentures in GBHHPL by TNB Topaz Energy, an arm of Tenaga Nasional Berhad.”GMR Bajoli Holi Hydropower Private Ltd (GBHHPL), a subsidiary of GMR Energy Ltd and a step down subsidiary of GMR Infrastructure Limited, today announced the signing of definitive agreement for an investment of Rs 225.6 crore through the CCDs in the GBHHPL by TNB Topaz Energy SDN Bhd, a wholly owned subsidiary of Tenaga Nasional Berhad (TNB),” a GMR Infrastructure statement said.

According to the statement, the proceeds from the CCDs will be used for the construction of 180 MW run of the river Bajoli Holi project. The hydroelectric project is under advanced stage of construction on river Ravi in the state of Himachal Pradesh.  Read More

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