GMR Infrastructure raises Rs 200 crore from ICICI Bank

MUMBAI: GMR Infrastructure today said it has raised Rs 200 crore through allotment of secured non-convertible debentures to ICICI Bank Ltd.

"... the debenture allotment committee of the board of directors of the company has allotted 2,000 secured non-convertible debentures of face value of Rs 10,00,000 each, aggregating to Rs 200 crore to ICICI Bank on May 16, 2012," it said in a filing to the BSE.

This is the second such fund raising from ICICI Bank by the Hyderabad-based infrastructure firm in the last 3 months.

On February 25, the company had raised Rs 350 crore from the private sector lender by allotting 3,500 non-convertible debentures of face value of Rs 10,00,000 each.

Debenture is a debt instrument that is not secured by physical asset or collateral and is backed only by the general creditworthiness and reputation of the issuer.

Shares of the company today fell 4.80 per cent to close at Rs 19.85 apiece on the BSE.