GMR Infrastructure, which owns stakes in airports in India and Turkey as well as roads and power assets, has raised $315 million from a qualified institutional placement. The deal, which was completed Friday morning India time, is the largest equity fundraising by a private sector Indian company this year and comes nine months after the company last tried to sell new shares.
Back then, on June 29, 2009, the company had lots of competition with six other Indian deals in the market on the same night. GMR's issue was the largest at $500 million and failed to generate sufficient demand, even though no fewer than eight investment banks were involved in the transaction....
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