GMR Infrastructure shares gain after unit files for IPO

Tags: News
Shares of GMR Infrastructure climbed today after saying its subsidiary, GMR Energy, filed documents for an initial public offering.

The stock settled 1.39 per cent higher at Rs 21.95 on the BSE after rising as much as 5.77 per cent to Rs 22.90. On the National Stock Exchange, GMR Infrastructure rose 1.62 per cent to Rs 21.95.

While over 84 lakh shares of the company were traded on the NSE, 8.12 lakh shares changed hands on the BSE.

In a filing to the BSE, the company said, "The draft red herring prospectus has been filed on March 28, 2014, by GMR Energy Ltd, a subsidiary of the company, with the Securities and Exchange Board of India for its initial public offering."

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