On the morning of 16 August, shares of GMR Airports Infrastructure were trading 1% below their previous close after the company’s operation losses declined in the June quarter of FY24.

GMR Airports Infrastructure is in the business of restructuring and modernising the airports and infrastructure projects of airports through its various subsidiaries.

During its board meeting on 14 August, the board approved raising Rs 5,000 crore through the issue of securities, including a qualified institutions placement, foreign currency convertible bonds, or any other securities.

The motion is yet to be approved by the shareholders, and other regulatory and statutory approval is needed to go further with this transaction.

The company even published its quarterly report for the current fiscal year’s unaudited financial quarter ending on 30 June. The company’s net losses stood at Rs 29.8 crore against the Rs 137 crore incurred in the same quarter during the previous fiscal year.

On the operating front, the revenue from operations increased by 40.2% to Rs 2,017.6 crore during the April-June quarter for FY24.

At 11:10 am, the shares of GMR Airport were trading at Rs 52.25 or 1.23% below its previous close of Rs 52.90 on NSE.