GMR Energy to offload 30% stake in Tenaga to pare debt: GBS Raju, Chairman

GMR Energy to offload 30% stake in Tenaga to pare debt: GBS Raju, Chairman

GMR Ltd, which runs India’s biggest airport, will sell 30% of its holding in power generation units to Malaysia’s Tenaga Nasional Berhad for $300 million (Rs 2,000 crore), as part of strategy to reduce debt. GBS Raju, chairman of GMR Energy, told ET in an interview that plans are to further unlock value through the IPO route, which will provide further impetus to growth. Edited excerpts. Read More…

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