GMR Infrastructure's airport business that made a profit last financial year after three years of losses is now set upon a financially stable path which entails an imminent IPO, cash compensation from an earlier project, a stringent filter on future projects and limited capital outflows, its group finance chief said recently.
The plans fit the Bangalore conglomerate's overall strategy of raising cash, paring debt, transforming itself into a light-asset company and unlocking potential in individual businesses, Madhu Terdal told ETin an interview.
"We are planning to list our airports energy businesses this year," said Terdal, adding that it aims to raise $250 million from share sale.
28/07/14 Anirban Chowdhury/Economic Times
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The plans fit the Bangalore conglomerate's overall strategy of raising cash, paring debt, transforming itself into a light-asset company and unlocking potential in individual businesses, Madhu Terdal told ETin an interview.
"We are planning to list our airports energy businesses this year," said Terdal, adding that it aims to raise $250 million from share sale.
28/07/14 Anirban Chowdhury/Economic Times
