GMR raises debt from Tata-GIC even as planned sale of airport biz pending

Mumbai: GMR Infra has raised Rs 2,000 crore debt through non-convertible debentures from Tata Sons and Singaporean wealth fund GICNSE 2.20 % to retire earlier loans.

“We can confirm that GMR has raised Rs 2,000 crore through NCDs. This has been done to retire certain existing loans,” said a GMR spokesperson, without elaborating on specifics. Emails to the Tata group and GIC remained unanswered before the story went to press.