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Govt allows FDI FOR GMR

Govt allows FDI FOR GMR

The Cabinet Committee on Economic Affairs has cleared GMR Airports Holdings' proposal to raise further foreign investment of $200 million from Mauritius-based entities. The fundraising will be through subscription to compulsorily convertible preference shares with face value of Rs 1,000. This approval is expected to result in FDI inflows of Rs 1,920 crore.

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