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Sovereign Wealth Funds Briefing - Categorized | Investment

GMR taps Temasek, ICICI to raise funds

Posted on 15 December 2009

From Indiatimes.com: The GMR Group is in an advanced stage of talks with Temasek Holdings and ICICI Bank to raise Rs 1,200 crore to support the expansion plans of its power generation arm GMR Energy, two persons privy to the discussions said.

Temasek, a sovereign wealth fund of the Singapore government, will invest Rs 600 crore in GMR Energy’s equity, while ICICI Bank will invest an equal amount by subscribing to its non-convertible debentures, said one company executive who asked not to be named……………………………….Full Article: Source

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