GMR has already invested Rs 200 crore and Rs 640 crore towards the modernisation of the Delhi and Hyderabad airports, respectively. Another Rs 198 crore will be invested out of the proceeds of the company’s IPO. GMR is expected to hit the bourses soon with a Rs 1,000–1,500 crore IPO.
About Rs 106 crore from the IPO proceeds will be spent on the Hyderabad airport and Rs 92 crore on the Delhi airport, while Rs 470 crore will be spent towards the development of roads; the rest will be used to settle the debts. The investment in the Delhi and Hyderabad airports will be Rs 1,760 crore (by 2008) and Rs 2,980 crore (by 2010), respectively.
