News

GVK Power & Infrastructure Limited (GVKPIL), an integrated infrastructure player, has completed a US$ 300 million Qualified Institutional Placement (QIP), a placement meant for institutional investors under SEBI regulations.

GVKPIL’s QIP issuance is the largest issue under the SEBI QIP regulations and the demand was nearly three times the issue size.

"We are delighted by the confidence reposed in GVKPIL by global investors. It signifies the confidence of the investors in the intrinsic strengths of GVKPIL, which has emerged as a leading integrated infrastructure company in India and indicates the investors’ commitment to the high growth Indian infrastructure sector,” said Mr. GVK Reddy, Chairman, GVKPIL.

“There was overwhelming demand for the placement from high quality investors. We have priced the issue at Rs. 325 per share. The funds raised through this placement will be utilized for investment in key strategic initiatives and to fund the equity requirements of GVKPIL subsidiaries,” said Issac George, Chief Financial Officer, GVK.

SSKI Corporate Finance, Citigroup Global Markets and Kotak Mahindra Capital Company were the Joint Global Coordinators and Book Runners for the issue.

GVKPIL is a leading infrastructure development company with experience and expertise spanning areas such as power, airports, roads, mining and urban infrastructure.

Earlier in January, GVK had announced the consolidation of its infrastructure assets under GVKPIL, making it an integrated infrastructure player. The Shareholders have also approved the Scheme of Amalgamation.

This consolidation will help GVKPIL leverage emerging opportunities in the infrastructure sector, enable better utilization of resources and create a stronger base for future growth. This would translate into a larger asset base, align shareholder interest in a single listed entity and unlock value in operating assets.

About GVK

As a pioneer in infrastructure development in India, GVK set up India’s first independent power project, the 217 MW Jegurupadu Combined Cycle Power Plant in Andhra Pradesh. This was followed by a 220 MW expansion facility at the same site in January 2006 and the 464 MW Gautami Power Ltd. a Combined Cycle Power Plant located in Peddapuram near Kakinada in Andhra Pradesh. GVK is also developing a 600 MW thermal project in Punjab and two hydro projects totaling 700 MW in Uttaranchal.





The GVK-led consortium has been mandated to operate, manage and develop India’s busiest airport, the Chhatrapati Shivaji International Airport in Mumbai. GVK aims to make CSIA a global benchmark by equipping it with the best possible facilities and infrastructure.

GVK has successfully completed India’s first six-lane BOT project connecting Jaipur and Kishangarh section of the National Highway 8 in Rajasthan. The project was completed in a record time of 24 months, six months ahead of schedule.

Till date GVK has invested over Rs. 5,000 crore into infrastructure projects and has on hand projects in the pipeline of over Rs. 13,000 crore.