India's GMR Infrastructure announced that Macquarie SBI Infrastructure Investments has invested INR8.9 billion (USD200 million) in its wholly owned airport subsidiary, GMR Airports Holdings, which operates Delhi and Hyderabad airports.
The investment was made through compulsorily convertible preference shares. The Foreign Investment Promotion Board (FIPB) on 11-Feb-2011 had approved GMR's proposal to raise funds from SBI-Macquarie and other funds. The company plans to use funds for acquisitions and new projects and not for its existing portfolio.
GMR Infrastructure shares gained 4.4% yesterday. GVK Infrastructure meanwhile fell 2.4%.
Selected Airports daily share price movements (% change): 1-Apr-2011
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