GMR Energy has secured ₹1,600 crore through high-yield debt at 14.85%, attracting investors like Allianz Global and Trust. The funds will be used to refinance existing loans and expand intra-group lending. GMR Group is also set to increase its stake in GMR Energy to almost 99%, making it a fully owned subsidiary, after acquiring stakes from Tenaga Nasional and Temasek.
Lenders may turn to OFCB route to raise more funds abroad
Indian banks are now shifting focus towards borrowing in overseas foreign currencies to meet their fundraising requirements. This strategic pivot comes in light of an