India's GMR weighs IPOs of airports, energy to cut debt

MUMBAI: GMR Infrastructure Ltd, the operator of India’s biggest airport, is considering listing its airport and power generation units and selling shares to institutional investors as it seeks to reduce debt, people with knowledge of the matter said.

In a first step, GMR planned to raise as much as US$200mil through a qualified institutional placement, said the people, who asked not to be identified as the deliberations are confidential. The company would then sell the airports and power units in initial public offerings (IPOs), they said.