GVK to file up to $250mn IPO for airport unit soon: Sources

GVK Power & Infrastructure is likely to file a draft prospectus for an up to USD 250 million initial public offer (IPO) of its airport unit soon, four sources involved in the process told Reuters.

GVK has mandated Citigroup , Bank of America-Merrill Lynch , Axis Capital and JM Financial Services to manage the IPO for unit GVK Airport Developers Pvt Ltd , the sources added.

The sources declined to comment as the plans were not public.

"I can't tell you the timing for sure, but we are working to file for the GVK Airport's IPO ASAP," said one of the sources.

When contacted, Issac George, director and chief financial officer of GVK Power and Infrastructure told Media it would be "too premature" to talk about an IPO filing.

Citigroup, Bank of America-Merrill Lynch, and Axis declined to comment, while JM Financial was not immediately available to comment.