GMR set up sub-committee to consider demerger of airport biz

In what could be a precursor to the GMR group clearing the decks for taking its airports business public, GMR Infrastructure Ltd on Friday said its board has constituted a sub-committee to consider a possible demerger of its airport business.

The latest development comes amid buzz that GMR Infrastructure Ltd has been mulling listing its airport holding entity, GMR Airports Ltd (GAL), to prune debt and mobilise funds for the next phase of growth of its airports business.

The company informed the bourses that it has already received multiple proposals from investors, which are currently being evaluated and will be placed before the newly constituted sub-committee.  Read More

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