GMR Infrastructure Limited Announces The Outcome Of 14th Annual General Meeting Of The Members
03rd July, 2010: GMR Infrastructure Limited (‘GIL’ or ‘the Company’) has announced that the 14th Annual General Meeting (‘AGM’) of the Company has been held today in Bengaluru. The Shareholders of the Company have approved the business items which were placed for their approval which inter alia include raising of limit of FII holding to 35%, appointment of Mr. Srinivas Bommidala as Managing Director for 5 years.
The resolution pertaining to issue of securities for an aggregate amount of Rs. 5,000 Crore was withdrawn considering the equity funding already raised by the group recently through Qualified Institutional Placement (Rs. 1,400 crore) and Private Equity investments in Energy sector (Rs. 1395 crore). However, the Company will seek the approval of the members as and when, any requirement arises.
About GMR Group:
GMR Group is a Bangalore headquartered global infrastructure major with interests in Airports, Energy, Highways and Urban Infrastructure.. Besides its stake in InterGen, the Company has thirteen power projects of which three are operational (823 MW) and ten (7648 MW) are under various stages of implementation and nine road projects, of which six are operational (421 km) and three are under development (309 km). In the Airports sector, it has developed and commissioned the Greenfield International Airport at Hyderabad. The Group, besides operating and modernizing the existing Delhi International Airport, has built a brand new integrated terminal T3 which was commissioned on 3rd of July 2010. It has also built a new terminal, designed to handle 20 million passenger capacity, at the Istanbul Sabiha Gökçen International Airport in Turkey and is operating it successfully. GMR has recently won the bid to expand and operate Malé International Airport. The Group is also committed to social development initiatives and executes these through its Corporate Social Responsibility arm, the GMR Varalakshmi Foundation (GMRVF).