Large Infrastructure Companies have to raise money
Large infrastructure companies such as GMR Infrastructure Ltd and Jaiprakash Associates Ltd have been quick to raise several thousands of crore rupees by selling shares to savvy financial investors, known as qualified institutional investors, in the past three months. Now, several mid-size infrastructure companies are looking to raise money through initial public offerings, or IPOs, in the next six to 12 months.
At least 10 such companies will have to accumulate around Rs 6,000 crore, according to several investment bankers who spoke on condition of anonymity. Among the companies looking to sell shares is Simhapuri Energy Ltd, a subsidiary of Hyderabad-based
Madhucon Projects Ltd; the solar unit of Hindustan Powerprojects Pvt. Ltd (HPPPL), a power generating firm backed by private equity firm Blackstone Group; Agra-based engineering firm PNC Infratech Ltd; Bhopal-based diversified infrastructure firm Dilip Buildcon Ltd; Soma Enterprise Ltd; Power Mech Projects Ltd; and the cold storage chain unit of logistics company Gateway Distriparks Ltd.
It might take some time to get that amount of money but will be done by then most probably. Other matters have yet not been disclosed and might take some time to up surface.
Source: Mint
Blackstone Group, GMR Infrastructure Ltd, Hindustan Powerprojects Pvt. Ltd, HPPPL, Infrastructure, IPOs, Jaiprakash Associates Ltd, Power Mech Projects Ltd, public offerings, Simhapuri Energy Ltd, Soma Enterprise Ltd
