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GVK Power skyrockets on the buzz of Changi eyeing 26% stake in GVK’s airport business

26 Dec 2011 Evaluate

GVK Power & Infrastructure is currently trading at Rs. 11.85, up by 0.84 points or 7.63% from its previous closing of Rs. 11.01 on the BSE.

The scrip opened at Rs. 11.25 and has touched a high and low of Rs. 12.15 and Rs. 11.25 respectively. So far 4363677 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 43.40 on 06-Jan-2011 and a 52 week low of Rs. 9.56 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 12.15 and Rs. 9.56 respectively. The current market cap of the company is Rs. 1882.42 crore.

The promoters holding in the company stood at 54.25% while Institutions and Non-Institutions held 25.70% and 20.05% respectively. 

Singapore’s Changi Airports Group is in talks with GVK Power & Infrastructure to buy 26% stake in the airport business of the company. In this regard, Changi is likely to pay between Rs 2,000 crore and Rs 2,200 crore for the stake, according to a report.

GVK’s overall airport business would be worth about Rs 8,000 crore. The deal is in the final stages, and an announcement is likely to be made in January.

Further, GVK is looking to raise up to $500 million to retire debt and fund operations by selling a minority stake in its Australian unit. The company has total debt of about Rs 5,000 crore.

GVK Power & Infrastructure is engaged in infrastructure development in areas of power, airports and roads. Incorporated in 1994, the company till date has invested over Rs 5,000 crore in infrastructure projects.

GVK Power & Infra Share Price

2.91 0.05 (1.75%)
20-Apr-2026 16:59 View Price Chart
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