According to sources, GMR Infrastructure has lifted around USD 315 million in a share sale to mostly foreign investors.

Moreover, it was said that the Bangalore-based GMR, which builds and manages airports, roads and power plants, such as in Europe, Mexico and Australia, received good interest and the company increased the offering size from an initially set USD 250 million.

While talking to media, a source said, “Foreign investors bought 88 percent of the sale, with half of the total demand coming from Europe and the remaining from Asia.”

The company, which also deals in reconstruction as well as operating an airport in Istanbul, launched the sale on Thursday and had announced the proceeds would be used for capital expenditure and for overseas and local buying.

In the meantime, the floor price for the sale stood at Rs 62.20 (USD 1.4) a share, a discount of 2.6 percent to Thursday's close.