25% each in the holding company to give them indirect control of 17.5% each in GMR Infra
GMR Infrastructure is part of a consortium led by Philippines-based construction company Megawide Construction which submitted a bid of 14.4 billion Philippine pesos or around $326 million.
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
Infra major's entry could queer the pitch for Jaypee and Hindustan Semiconductor.
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