GMR unveils group rejig plan; to demerge non-airport biz
GMR Infrastructure Ltd on Thursday unveiled a strategic group restructuring involving demerger of non-airport vertical business as part of efforts to simplify the corporate holding structure. Along with the rejig, the board of GMR Infrastructure Ltd (GIL) on Thursday also approved raising up to Rs 5,000 crore through issuance of securities.
The restructuring is a step in the right direction towards creating pure plays in different businesses of the group thereby attracting sector-specific global investors and unlocking value for the current shareholders of GIL, the company said in a statement.
