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GVK Power gains 6% on stake sell in BIAL for Rs 2202 crore

GVK Power gains 6% on stake sell in BIAL for Rs 2202 crore

Monday, March 27, 2017, 11:29 AM

Shares of GVK Power & Infrastructure advanced 6% intraday Monday as it has completed the stake sale in Bangalore International Airport (BIAL). The company has divested 33% of its stake in Bangalore International Airport from its wholly owned subsidiary, Bangalore Airport & Infrastructure Developers (BAIDPL) to Fairfax India Holdings Corporation, through its wholly-owned subsidiary in Mauritius, for an aggregate investment of Rs 2202 crore.
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