GMR Infrastructure announced that it scrapped a US$500mn share sale due to lack of interest from investors. The company earlier cut the amount it was seeking to raise to US$100mn. GMR had joined Lanco Infratech and Emami in trying to raise funds from selling shares.
The stock was down by 9% to Rs142 after hitting an intra-day high of Rs160 and an intra-day low of Rs140 recording volumes of 8.1mn shares on BSE.
The stock was down by 9% to Rs142 after hitting an intra-day high of Rs160 and an intra-day low of Rs140 recording volumes of 8.1mn shares on BSE.
GMR Infrastructure abandons its attempt to raise Rs20bn in off-market share sales to institutional investors after they showed little interest in the offering. (ET)
