According to an Economic Times report, the Bangalore-based GMR Infrastructure intends raising Rs 20-30 billion growth capital by either of the ways - private equity shares, Convertible Debentures, Foreign Currency Convertible Bonds, or any other securities.

Moreover, the proposed raising of growth capital - for the company amid a structural revamping - will be at the unlisted intermediate holding company level and not at the entity level.

Essentially an infrastructure developer, GMR is focused on airports, highways, urban infrastructure, and power generation; and is expected to raise the mentioned capital for bidding for the forthcoming highways and energy projects, within months of the formation of the new government at the centre.

Refusing to make an official disclosure about the amount of growth capital GMR is looking to raise, a senior finance official of the company said: "All our existing projects have been funded and we are getting shareholders approval on May 9, 2009 as growth capital for future projects."

GMR Infrastructure, with a Rs 21,000 crore market cap, is leveraged nearly 1.2 times. With about Rs 10,000 crore debt, the company is involved in modernizing New Delhi airport, and has put up a greenfield international airport at Hyderabad. The promoters of GMR, which has a current market value of almost Rs 15,000 crore, hold nearly 75 percent of the company.