Evaluating multiple proposals received for airport business: GMR Infrastructure

GMR Infrastructure Friday said it is evaluating "multiple proposals" received for its airport business.

The group owns majority stake in entities that operate the Delhi and Hyderabad airports. Besides, it has airport projects overseas.

It also said the Board of Directors of the company at its meeting on February 14 approved constitution of a board sub-committee to consider and evaluate options of demerger to unlock shareholder value in the existing business of the group; raising equity capital in the airport business; and accelerated de-leveraging of the company.

This will pave way for the next phase of growth, considering the government's stated intent of faster privatisation of airports in the country which is USD 100 billion investment opportunity, it added.

"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 of the board," it said in a BSE filing.