GMR Infrastructure nears PE investment in roads business
GMR Infrastructure is close to sealing a INR6 billion ($120 million) private equity investment in its highways business, which will enable the company to finance a INR75 billion project it won last year to build a road between Ahmedabad and Kishangarh in Rajasthan.
Investment bankers told The Business Standard that the deal is expected to be signed within three weeks. GMR Infrastructure's roads business contributes just 10% of its annual revenue and is dwarfed by...
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