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GMR power packed ipo
The next big ticket IPO ticket in India is GMR's Power Packed IPO.
GMR plans to offload 10% and raise about 500 millions. This values the company at 5 billion dollar or 20 crore rupees. The plans are still under discussions and firm decision would be made after they stabalize.
The proceeds from IPO money would be used to foray ultra mega power project. Using the proceeds can be used to acquire other assests.
There is 6000 MW capacity of which 1000 MW originates from Orissa. The company plans to have 15000 MW of power in India by 2015. GMR also plans to bid for turkish power plant.
It is learnt that GMR has bagged an airport deal in Turkey.
