Hyderabad-based Infrastructure Group GVK on Friday said it is hopeful of finalising a stake sale in its airport vertical in another three to four months. The partial dilution of stake will help the company shave off Rs 2,500 crore of non-operational debt that it has under this business vertical.
"In the next few months we will show some results as we have been in talk with several investors. Now with these two terminals (Mumbai and Bangalore) opening, we have got lot of interest from investors. We are looking to get the process concluded," Sanjay Reddy, Managing Director, Mumbai International Airport told Business Today on the sidelines of the inauguration of the swanky T2 at Mumbai airport that was inaugurated by the Prime Minister Manmohan Singh on Friday.
He declined to divulge any details of these investors. GVK was earlier in talks with Singapore's Changi Airport for a stake sale that did not materlise then.
11/01/14 Manisha Singhal/Business Today
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"In the next few months we will show some results as we have been in talk with several investors. Now with these two terminals (Mumbai and Bangalore) opening, we have got lot of interest from investors. We are looking to get the process concluded," Sanjay Reddy, Managing Director, Mumbai International Airport told Business Today on the sidelines of the inauguration of the swanky T2 at Mumbai airport that was inaugurated by the Prime Minister Manmohan Singh on Friday.
He declined to divulge any details of these investors. GVK was earlier in talks with Singapore's Changi Airport for a stake sale that did not materlise then.
11/01/14 Manisha Singhal/Business Today
