GMR Airports Infrastructure Ltd announced its intention to raise funds worth Rs 50 billion in a board meeting scheduled for August 14. The meeting will also address the release of the company's unaudited financial results for the quarter ending June. The decision, according to a legal filing, involves exploring options to secure the funds in one or more installments.

This can be achieved through the issuance of securities, including placement of qualified institutions, foreign currency convertible bonds or other relevant securities. However, the proposal is subject to shareholder approval and compliance with the relevant legal requirements.

GMR Group, known for operating major airports such as those in Delhi, Hyderabad and Goa, is trying to use these funds for its operations and expansion initiatives. In the light of this development, the company's shares on the Bombay Stock Exchange saw a marginal increase of more than 1% and reached a closing value of Rs 52.11 apiece. The move to secure significant funds reflects GMR's strategic approach to strengthening its financial position and potentially driving its growth trajectory.