GMR Energy has secured ₹1,600 crore through high-yield debt at 14.85%, attracting investors like Allianz Global and Trust. The funds will be used to refinance existing loans and expand intra-group lending. GMR Group is also set to increase its stake in GMR Energy to almost 99%, making it a fully owned subsidiary, after acquiring stakes from Tenaga Nasional and Temasek.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets