GMR Infra: Panel set up to 'spin off' airport biz; receives proposals

GMR Infrastructure Ltd has said it has constituted a subcommittee of its board for a possible spin-off of the airport business as it sees a USD 100-billion investment opportunity in India.

According to a regulatory filing , the company has already received multiple proposals from the investors for the airport business, which are currently being evaluated and shall be placed at the meeting of the newly constituted sub-committee.

“We wish to inform that the board of directors of the company at its meeting held on February 14 approved the constitution of the sub-committee to consider and evaluate options of demerger to unlock shareholder value in the existing business of the group," the filing said.

The consideration and evaluation of option of demerger would pave way for the next phase of growth considering the stated intent of the government for faster privatisation of airports in the country.