New Delhi: India's largest airport developer GMR Airports, which owns Delhi, Hyderabad, and Sabiha Gokcen International Airport in Istanbul, will sell shares in a public offer this financial year to raise roughly Rs 2,000 crore for expansion and to help a clutch of private equity investors to sell shares in the company, two people familiar with the development said."The listing is primarily aimed at providing exit route to the investors as the company does not have immediate fund requirement," one of the two persons said. GMR Airports is making operating profit and even on net profit level it has achieved breakeven in the third quarter. It has Rs 4,000 crore debt.
"We are evaluating options of a potential IPO in GMR Airports and the issue size and details will be worked out later. One of the objectives is to provide an exit to PE investors." the spokesperson said in a email response.
18/04/13 Arun Kumar/Economic Times
