GMR Energy has raised ₹1,600 crore via high-yield debt at 14.85%, drawing investors such as Allianz Global and Trust. The proceeds will be used to refinance existing borrowings and support intra-group lending. Meanwhile, GMR Group is set to raise its stake in GMR Energy to nearly 99% by acquiring shares from Tenaga Nasional and Temasek, paving the way to make it a fully owned subsidiary.
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