GMR Infrastructure plans IPOs for airport business
India's GMR Infrastructure is reportedly planning initial public offerings (IPO) for the holding companies of its energy and airport businesses, with the primary objective of providing an exit to private equity investors (DNA, 11-Jul-2011). The airport business will reportedly conduct its IPO in FY2016 although GMR CFO Subba Rao stated that it "is not possible to give the exact timeframe. There are several factors that go along with the IPO proposal. But, private investors will find an exit through the IPOs.” “We need to talk to the private equity investors before consolidating. But even for this, there is no timeframe. We can do it anytime. It all depends on how the investors react to the proposal since consolidation will have an impact on the valuation and that should be acceptable to the investors,” Mr Rao added.