Thursday, December 17, 2015

GVK Airport explores fund raising options to pare debt

NEW DELHI: Conglomerate GVK today said its subsidiary GVK Airport Developers is exploring various options, including possible initial share sale, to reduce debt burden.

GVK Airport Developers handles the airport business of the group. It is the developer of the Mumbai and Bangalore airports.

The airport arm is believed to have more than Rs 3,000 crore debt.

"GVK Airport Developers Ltd, a wholly-owned subsidiary of our company has been exploring various options, over a period, to raise funds through PE investors, an IPO among others etc, to reduce its debt burden," GVK Power and Infrastructure said in a filing to the BSE.
16/12/15 PTI/The Economic Times
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