New Delhi: GVK Power & Infrastructure is looking to raise funds for its airport business as the diversified group seeks to reduce its debt burden.
"We are looking to raise funds for the airport business, mainly to repay debt," G V Sanjay Reddy, vice chairman of GVK group, said.
He was responding to a query on whether the company was planning to list Mumbai International Airport Ltd.
The group, which has over Rs 20,000 crore debt burden, is operating Mumbai and Bangalore international airports.
Mr Reddy declined to comment on whether there are plans to list its airport business.
Earlier, sources had said the group was looking to raise more than Rs 3,000 crore by listing its airports arm - GVK Airport Developers Ltd.
Mr Reddy said the Mumbai airport is expected to see more than 40 million passengers in the current financial year ending March 31, 2016.
14/07/15 PTI/NDTV
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"We are looking to raise funds for the airport business, mainly to repay debt," G V Sanjay Reddy, vice chairman of GVK group, said.
He was responding to a query on whether the company was planning to list Mumbai International Airport Ltd.
The group, which has over Rs 20,000 crore debt burden, is operating Mumbai and Bangalore international airports.
Mr Reddy declined to comment on whether there are plans to list its airport business.
Earlier, sources had said the group was looking to raise more than Rs 3,000 crore by listing its airports arm - GVK Airport Developers Ltd.
Mr Reddy said the Mumbai airport is expected to see more than 40 million passengers in the current financial year ending March 31, 2016.
14/07/15 PTI/NDTV