Hyderabad: GVK Power & Infrastructure plans to list its airport vertical business. The diversified Hyderabad-based infrastructure company is in the process of preparing the documentation and has appointed consultants and bankers to facilitate the filing of the draft prospectus with the regulators within a month. They are looking at bringing down debt by about ?3,000 crore.
Faced with a consolidated debt commitment of over ?24,000 crore on its books, the company has been seeking to bring down its debt at the holding company level by roping in a strategic partner, equity infusion and even a qualified institutional placement (QIP) offer.
While it has been in talks with some of the private equity players, the equity infusion has so far not materialised due to various extraneous factors.
Meanwhile, the airport vertical, which operates and manages Mumbai International Airport Ltd and Bangalore International Airport, and working on modernisation of Bali airport in Indonesia, has also been feeling the burden of the debt.
19/02/15 Business Line
Faced with a consolidated debt commitment of over ?24,000 crore on its books, the company has been seeking to bring down its debt at the holding company level by roping in a strategic partner, equity infusion and even a qualified institutional placement (QIP) offer.
While it has been in talks with some of the private equity players, the equity infusion has so far not materialised due to various extraneous factors.
Meanwhile, the airport vertical, which operates and manages Mumbai International Airport Ltd and Bangalore International Airport, and working on modernisation of Bali airport in Indonesia, has also been feeling the burden of the debt.
19/02/15 Business Line
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