GMR group appoints IDBI as lead arrange for Rs.7500 Cr expressway project

The GMR group has appointed IDBI Bank as lead arranger for raising debt for the Rs 7,500 crore expressway link between Kishangarh in Rajasthan and Ahmedabad.

Tying up project funds will be completed by April.

At least 75 per cent of the project cost, or Rs 5,625 crore, will be in the form of debt. The equity component is Rs 1875 crore. A dozen banks are expected to be involved in the loan syndication.