| GMR Infrastructure has inked a foreign currency convertible bond private-placement deal with Kuwait Investment Authority (KIA) for $300 million (approximately Rs 2,000 crore). "Kuwait Investment Authority today agreed to subscribe to a sixty-year long Foreign Currency Convertible Bond (FCCB) due 2075 to be issued by GMR, the flagship company of the GMR Group," GMR Infrastructure said in its filing to the BSE on Friday.
Kuwait Investment Authority is one of the largest and oldest sovereign wealth fund of the world. “This is the largest bilateral investment of Kuwait Investment Authority in India. This investment shows confidence of sovereign investors in the long-term policies being implemented by the Government of India, particularly in the infrastructure space," said GMR Group's Chairman G M Rao in the statement...............................................Full Article: Source
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