Mumbai: Singapore’s GICNSE 0.15 % and Japanese diversified conglomerate Mitsubishi Corp. are in talks with GMR Infra for a minority stake in its airport holding co. as Indian airport developers step up attempts to reduce debt and get more investors.
Three people aware of the development said that GMR, with interests in airports, roads and energy aims to raise Rs 4,000-Rs 5,000 crore by selling stake in airport business. The money will primarily be used to retire part of its Rs 20,000 crore of net debt.
A spokesman for the conglomerate said that a “number of investors have shown interest” in the airport platform and that it continues “to engage with them constructively,”. He didn’t elaborate.
