GMR Energy on 9 April 2010 signed a shareholders' agreement with Temasek
Holdings to raise $200 million (approx Rs 886 crore) for its energy expansion
plans.
Temasek is likely to invest the proposed funds through its wholly owned
subsidiary, Claymore Investments (Mauritius). The investment is expected to be
through a structured paper, compulsorily convertible into equity.
The funds are to be utilised for GMR's expansion in the energy business. The
company plans to augment its installed power generation capacity from the
current 808 MW to more than 6,500 MW over the next three-four years.
Also See:
GMR
Energy to raise funds for projects (27-March-10)