GMR Infrastructure is ready to launch an initial public offering of shares in its power unit, GMR Energy, when markets are favourable, Group Chief Financial Officer Subbarao Amarthaluru said.
The company plans capital expenditure of Rs140 Indian billion ($2.9 billion) for 2012/13 starting April 1, he said after the company reported third-quarter results.
GMR Infrastructure earlier reported a consolidated net loss of Rs1.08 billion ($21.95 million) for the three months to Dec. 31, compared with a loss of Rs222.5 million a year earlier.