Hyderabad: GMR wants to play a major role in the country's infrastructure development and is all set to raise money from the market to fund its ambitious plans.
If India has to sustain an eight per cent growth, infrastructure has to grow 11 per cent.GMR wants a chunk of those infrastructure profits and it's willing to give you a share of those if you buy into its IPO targeted to raise Rs 1,000 crore.
The GMR group has shifted focus from jute, sugar and metals businesses to power, roads and airport development. It won the controversial bid to privatise Delhi airport which is now being heard in the Supreme Court.
The GMR Infrastructure IPO is to hit the market by mid June. The price band is expected to be in the range of Rs 300-350 per share.
16/05/06 NDTV.com
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Wednesday, May 17, 2006
GMR to raise money through IPO
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