GMR Infrastructure lists on BSE and NSE

By Staff
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Google Oneindia News

Mumbai, Aug 21 (UNI) GMR Infrastructure, a company with inerests in airports, roads and energy business, got listed today on the Bombay stock Exchange (BSE) and the National Stock Exchange (NSE) today.

It is for the first time that an infrastructure company with interests in airports and roads has been listed on the BSE. ' After being listed at Rs 209.65, the share value rose to Rs 219.80, before winding up the day at Rs 210.30 against the listing price of Rs 210.

The initial public offering (IPO) was of 3,81,36,980 equity shares of Rs 10 each through cent per cent book building process.

The company is raising the amount for the purpose of investment in various special purpose vehicles (SPVs) and to repay the unsecured loans.

The company said, a part of the IPO proceeds would go for the power trading, transmission and distribution businesses, which the company plans to enter. The remaining will be used for the ongoing road projects.

GMR had recently bagged the New Delhi and Hyderabad airports deal and some other infrastructure projects related to airports and roads. GMR's 40 per cent revenue comes from airports and 15 per cent from road business.

It is expected that after the successful completion of the two airport projects, GMR may bag more such big projects.

JM Morgan Stanley, ENAM Financial Consultants, DSP Merrill Lynch and SSKI Corporate Finance are the book running lead managers and Karvy Computer share the registrar to the issue.

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