GMR Energy Raises Rs 465Cr From IDFC PE, Argonaut & Ascent Capital - 05-Jun-2010
GMR Energy Limited, the energy arm of diversified GMR Group, has decided to raise capital from investors led by the IDFC Group for its energy expansion plans. The IDFC Group and co-investors, Argonaut Ventures and Ascent Capital, have signed a shareholders’ agreement to invest Rs 465 crore into GEL. In April, Singapore investment fund Temasek Holdings invested $200 million (about Rs 936 crore) in GMR Infra. Prior to that, the company raised another $315 million (about Rs 1,475 crore) from share sale to institutions. GMR Energy is engaged in the business of power generation, transmission and distribution.