GVK Power to raise Rs 1,500 crore via QIP
GVK Power and Infrastructure Ltd has plans to raise Rs 1,500 crore by selling equity shares to institutional investors through a qualified institutional placement (QIP) in September. GVK Power is also evaluating the option of listing its airport holding company and is likely to take a decision by next month, according to two company executives and an investment banker. The proceeds of the share sale would be used to repay a part of GVK´s consolidated debt of Rs 22,400 crore. GVK has a presence in airports, roads, energy, hospitality and life sciences.