Mumbai: 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 told a reporters conference call.
The company plans capital expenditure of Rs14,000 crore ($2.9 billion) for 2012-13 starting 1 April, he said after the company reported third-quarter results.
GMR Infrastructure earlier reported a consolidated net loss of Rs108 crore ($21.95 million) for the three months to 31 December, compared with a loss of Rs222.5 million a year earlier.