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Our Bureau

Mumbai , Aug. 7

GMR Infrastructure has fixed its initial public offer (IPO) price at Rs 210 per share.

The company is entering the capital market with a public issue of 3.81 crore equity shares of Rs 10 each, with the price band fixed earlier at Rs 210 to Rs 250 per equity share. The issue is being made through the 100-per cent book building process, with an allocation of at least 60 per cent of the issue size to Qualified Institutional Buyers, while 30 per cent of the issue would be available for allocation to retail bidders on a proportionate basis.

GMR Infrastructure owns 63 per cent of GMR Hyderabad International Airport Ltd, which is developing the greenfield Hyderabad airport.

Also, a consortium led by GMR, consisting of Fraport AG, Malaysia Airports Holdings Berhad and India Development Fund, was awarded a long-term agreement of 30 years to operate, manage and develop the brownfield Delhi airport.

GMR Infrastructure has placed 2.89 per cent of the post-issue equity with ICICI Venture for Rs 250 crore, 1.11 per cent with Citigroup Venture Capital for Rs 99.17 crore, 0.75 per cent with George Soros Promoted Quantum Fund for Rs 67.25 crore and 0.30 per cent with Punjab National Bank for Rs 27 crore.

While Citigroup, Quantum and PNB had picked up the stake at Rs 270 per share, ICICI Venture had bought it at Rs 261 per share.

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