Bengaluru based GMR Infrastructure is selling a 30 % equity stake in its subsidiary GMR Energy Ltd (GEL) to Malaysia’s Tenaga Nasional Berhad for rs. 2,000 crore ($300 million). Tenaga Nasional is the Malaysia’s largest power utility. The proceeds will be used for the repayment of corporate debt as GMR Infra’s gross consolidated debt stood at rs. 43,439 crore.
After this funding infusion, the energy arm’s debt will come down to rs. 750 crore. Besides this fund infusion into GMR, the Tenaga will bring its expertise in generation, distribution and in the infrastructure sector.
So now let’s discuss some questions related to this post :
1. GMR infrastructure is selling 30 % of its energy arm to which Malaysian company ?
2. What is the total debt of GMR Infra’s as of now ?
Courtesy : Hindu Business line