GMR Energy Ltd, the wholly owned energy arm of infrastructure major GMR Group, is planning to raise Rs 4,000 crore through public offer and private equity placements to fund its expansion programmes in India and overseas.

The company had earlier planned to raise Rs 2,000 crore through an IPO, but it was deferred due to volatile market conditions.

GMR Energy is valued at US$5 billion and the company is planning to offload 10% equity through IPO. The part of the proceeds may be used to fund the group's possible foray into ultra mega power projects.

The GMR group has already raised debts through External Commercial Borrowings for acquisition in coal mining, power assets in Middle-East, Africa, Asia and Europe.

Recently, GMR Energy bought 5% stake in Homeland Mining & Energy in South Africa. This company is a subsidiary of Homeland Energy Group of Canada.

Yesterday, the company received a 20-year license to operate an airport in Turkey and build and manage an international terminal within that airport.