A report says that the IPO proceeds, which is to be estimated around Rs. 3,000- 3,500 crore, may be utilized to trim GVKs debt.
GVK's infrastructure companies have been in days of despair, such as scarcity of gas to fire power plants, project delays and incapacity to monetize its airport assets..
In March, GVK Power net debt stood at around Rs.20,760 crore.
The worst situation would be when the company had to clear around Rs. 1,400 crore towards interest expenses in fiscal 2015.
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