Last week, the private sector infrastructure company raised about $200 million through a qualified institutional placement (QIP) and $100 million of preferential warrants to promoters. Some brokerages say that the move will help prune corporate debt by around Rs.3,500 crore.

The GMR Infrastructure board on Wednesday approved a proposal to issue up to 180 million warrants, entitling up to 18 million shares, under preferential allotment to promoters.