gvk’s airport vetical plan IPO

Hyderabad, June 11, 2018: GVK Group, which operates the Mumbai international airport, may file a Draft Red Herring Prospectus with market regulator SEBI for an IPO of its airports vertical, a senior executive of the infra major said. Is-sac George, CFO of GVK, also said State Bank of India has given an initial term sheet on the financial closure of the Navi Mumbai Airport project that the company has been awarded and a clear picture on the finances would emerge in a couple of months. GVK currently manages Mumbai International Airport through its subsidiary GVK Airport Developers Ltd. As per the Q4 results statement, the airport seg-ment of GVKPIL generated $2,434-crore revenues last year with $594-crore profit. The total debt of the airport vertical is $8,000 crore.

PTI

 

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