GMR Energy on 9 April 2010 signed a shareholders' agreement with Temasek Holdings to raise $200 million (approx Rs 886 crore) for its energy expansion plans.
Temasek is likely to invest the proposed funds through its wholly owned subsidiary, Claymore Investments (Mauritius). The investment is expected to be through a structured paper, compulsorily convertible into equity.
The funds are to be utilised for GMR's expansion in the energy business. The company plans to augment its installed power generation capacity from the current 808 MW to more than 6,500 MW over the next three-four years.
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