GMR wants to demerge airport arm; seeks lenders' nod
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GMR Infrastructure which operates the New Delhi international airport and the Hyderabad international airport has sought the approval of its lenders to demerge its airports arm and list it separately, according to a tweet by CNBC TV18.
GMR Infrastructure which operates the New Delhi international airport and the Hyderabad international airport has sought the approval of its lenders to demerge its airports arm and list it separately, according to a tweet by CNBC TV18.
According to the same unnamed sources, the demerge will be done to unlock value and to cut debt.
GMR which runs the Indira Gandhi International Airport in New Delhi and the Rajiv Gandhi International Airport in Hyderabad recently lost out to GVK to build the new Navi Mumbai airport. This would be the second airport in the country's financial capital.
On the BSE, the company's shares were trading at Rs 15.49 apiece, up Rs 1.10 or 7.64% from previous close.
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