PE-backed GMR plans IPO - report
India's GMR Infrastructure has hired banks to manage the listing of its airport business, which has received funding from Macquarie SBI Infrastructure Fund and Standard Chartered Private Equity.
According to Reuters, the listing is expected in the second half of next year and aims to raise $300-$350 million. Citigroup, JPMorgan, Axis Capital and IDFC will manage the public offering.
GMR operates the Delhi and Hyderabad international airports and owns majority stakes in these joint ventures.
It is reported to have sold its 40% stake in Istanbul's Sabiha Gokcen International Airport for about €220 million ($303 million) to TAV Airports Holding to pare down debt.
Macquarie SBI invested $200 million in GMR Airports in 2011, and Standard Chartered invested an undisclosed sum in the company the same year.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.