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GMR Infra strengthens on plan to sell 5-star hotel at Rajiv Gandhi International Airport

11 Mar 2013 Evaluate

GMR Infrastructure is currently trading at Rs. 20.00, up by 0.55 points or 2.83% from its previous closing of Rs. 19.45 on the BSE.

The scrip opened at Rs. 19.60 and has touched a high and low of Rs. 20.10 and Rs. 19.50 respectively. So far 363889 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 34.00 on 14-Mar-2012 and a 52 week low of Rs. 16.75 on 29-Nov-2012.

Last one week high and low of the scrip stood at Rs. 20.10 and Rs. 17.70 respectively. The current market cap of the company is Rs. 7745.95 crore.

The promoters holding in the company stood at 71.64% while Institutions and Non-Institutions held 18.12% and 10.24% respectively.

In line with its asset light, asset right strategy, GMR Infrastructure, has put up for sale its five-star hotel at the Rajiv Gandhi International Airport, third property that GMR Group has put on block this year. Further towards this development, reportedly HVS India has been appointed as transaction advisor.

The transaction, which could fetch a sum of anywhere between Rs 300-350 crore, would be by way of parent company offloading its 100% equity stake in the Hotel Company. GMR, back in 2004, inked a concession agreement with the Andhra Pradesh government, to develop a green-field airport and other related infrastructure. As a part of the project, the company also constructed 305-room hotel.

GMR Infrastructure, which is reeling under a debt of Rs 37,000 crore, is planning to raise as much as Rs 10,000 crore by the end of the next financial year through asset sales to reduce the debt burden.

GMR Airports Share Price

97.36 0.49 (0.51%)
20-Apr-2026 16:59 View Price Chart
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