M&A

M&A

GMR to monetise land parcels at Krishnagiri, Kakinada to pare debt

Business Line  

GMR Infrastructure Ltd has charted out a multi-pronged strategy to pare debt by monetisation of land assets in Kakinada in Andhra Pradesh and Krishnagiri in Tamil Nadu, and other locations. It plans to complete the demerger process by creating two listed pure-plays. It also plans to refinance its remaining debt through dollar bonds at GMR Infrastructure like it had managed in its airports — DIAL & GHIAL. Among other key strategic initiatives are plans to re-energise the gas plants with new availability of gas, create cash flows, work with renewable energy companies for a tie-up under new tariff policy.