GVK Power to raise $300 mn through share sale

New Delhi: GVK Power and Infrastructure plans to raise about $300 million through share sale in next few months to finance its expansion plans and setting up power plants in the country, a senior company official said today. "We plan to raise the funds primarily through the equity route (sale of shares)," Vice Chairman G V Sanjay Reddy told reporters on the sidelines of a CII conference.
He, however, declined to give further details about the fund raising plans. GVK Power & Infrastructure, which is a subsidiary of the Hyderabad-based infrastructure major GVK group, has three gas-based power plants in Andhra Pradesh, having a capacity to generate about 900 Mw power.
Besides Andhra Pradesh, the company is also developing several power projects in Jammu and Kashmir, Punjab and Uttarakhand and aims to have a generation capacity of about 4,400 Mw in next few years.
06/10/10 Press Trust of India/Business Standard

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