Bangalore-based GMR Infrastructure, the flagship company of GMR Group, has decided to raise up to Rs 5,000 crore through private placement of shares in domestic and international markets.

The company said in a communiqué that its board has approved the raising of an amount not exceeding Rs 5,000 crore either through preferential issue or qualified institutional placement (QIP) or private placement of securities.

Earlier in December 2007, GMR Infrastructure had raised over $1 billion through qualified institutional placement.

It should be noted that GMR has been aggressive in bidding for highway, energy and airport projects as well as overseas acquisitions. Recently, the firm acquired a coal mine in Indonesia for $100 million and is currently in the process of developing the mine.