GMR Infrastructure said on Friday the shareholders have approved the increase in authorized share capital. They have also approved preferential allotment of compulsorily convertible preference shares (CCPS) and issue of securities up to Rs 25 billion or equivalent thereof.

The stock had underperformed the market over the past one month till Mar. 20, 2014, falling 18.61% compared with the Sensex's 5.86% rise.

It underperformed the market in past one quarter, declining 6% as against 3.13% rise in the Sensex.

Shares of the company declined Rs 0.2, or 0.92%, to trade at Rs 21.60. The total volume of shares traded was 322,681 at the BSE (Thursday).