By IANS,
New Delhi: The government Wednesday approved infusion of foreign funds to the tune of $200 million in Hyderabad international airport operator GMR Airports Holding Ltd.
The foreign direct investment, approved by the Cabinet Committee on Economic Affairs, is from Standard Chartered Private Equity, NYLIM Jacob Ballas India Fund and M Financial-Old Lane India Corporate Opportunities Fund through subscription to compulsorily convertible preference shares each of face value of Rs.1,000.
The company, which is a subsidiary of GMR Infrastructure, had in March received $200 million from Macquarie SBI Infrastructure Investments Ltd.