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GVK Power soars on plan to offload its airport business for Rs 2,500 crore

13 Aug 2013 Evaluate

GVK Power & Infrastructure is currently trading at Rs. 7.82, up by 0.59 points or 8.16% from its previous closing of Rs. 7.23 on the BSE.

The scrip opened at Rs. 7.25 and has touched a high and low of Rs. 7.89 and Rs. 7.25 respectively. So far 639382 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 15.75 on 09-Jan-2013 and a 52 week low of Rs. 5.52 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 7.89 and Rs. 5.52 respectively. The current market cap of the company is Rs. 1236.52 crore.

The promoters holding in the company stood at 54.25% while Institutions and Non-Institutions held 17.71% and 28.04% respectively.

In a bid to remove its debt burden, GVK Power & Infrastructure is in talks to sell stake in its airport business and expecting the deal to be closed before September. At least five parties have shown interest in picking up stake in the company’s airport vertical. Those in the fray include Changi of Singapore, three other strategic investors and a financial investor.

With the divestment, the company will be able to raise about Rs 2,500 crore. The company has total debt of about Rs 18,000 crore and this includes commitments of about Rs 3,000 crore at the holding company level. Rest is on the special purpose vehicles.

GVK Power & Infrastructure is engaged in infrastructure development in areas of power, airports and roads.

GVK Power & Infra Share Price

2.86 0.05 (1.78%)
17-Apr-2026 16:59 View Price Chart
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