GMR recasts group format, airports a separate entity
The board of GMR Infrastructure (GIL) on Thursday approved a corporate restructuring exercise that will see the flagship infrastructure firm retain only the airport business listed as a separate entity. The remaining verticals –energy, EPC and urban infrastructure — will be carved out and housed in GMR Power and Urban Infra (GPUIL). At present, both GPUIL and GMR Power Infra, that housed the energy business, are units of GIL.
Post the de-merger, GIL will emerge as the country’s only pure-play listed airports company. The company currently runs airports in Delhi and Hyderabad and, in early July, had divested a 49% stake in the airports business to the Paris-based Groupe ADP.
