GMR Infrastructure is planning to raise Rs 550 crore by selling 1,100 acres of land in special economic zone (SEZ) in Krishnagiri district of Tamil Nadu. Selling land in one of its SEZ is part of an overall move by the company to exit some of its assets as part of its ‘asset light - asset right’ strategy.
The SEZ at Krishnagiri was part of GMR’s strategy to get into urban infrastructure space spanning industrial investment zones as well as domestic tariff areas. It had earlier exited a power project in Singapore for Rs 2,500 crore, while simultaneously divesting a 74 per cent stake in a highway project and another coal mine in South Africa.
GMR Infrastructure is the infrastructure holding company formed to fund the capital requirements of various infrastructure projects in the Group’s Energy, Highways and Airport and SEZ sectors. It undertakes the development of the infrastructure projects through its various subsidiaries.
Company Name | CMP |
---|---|
Dreamfolks Services | 519.65 |
GMR Airports Infra. | 80.90 |
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