GMR Infra Soars, In Advance Talks To Sell Hyd Airport Stake

Leading infrastructure player, GMR Infrastructure is in advanced talks with sovereign wealth fund Abu Dhabi Investment Authority (ADIA) to sell a stake of up to 49% in Hyderabad International Airport, reported a business daily.

The Bengaluru-based developer is looking to sell non-core assets to lower its debt-burden. If the transaction goes ahead, the airport entity will be valued at Rs 5,000 crore.

Meanwhile, the stock soared by 1.1% at Rs 18.15 per share on the early hours on BSE. The stock attracted a total traded volume of 80,60,075 shares and a traded value of 1,471.77 lakh.

GMR Infrastructure Limited (GIL) is engaged in the generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) etc.

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