It's not the fog

GMR has emerged as a leader in aviation infrastructure space wiht commissioned projects in Hyderabad, Delhi and Turkey. Despite the recent L&T stake sale to GVK in Bangalore ( that probably GMR should also have bid) and with the opening of more than 20 mid tier airport projects plus another 5-6 metro airport modernisation projects, GMR cannot be choosy but also cannot afford to ive away the farm. Each Aviation project Capital requirement will run into 2-3K Crores that’s a $500m each time. Even if it foots only 10-15% of its equity, it crrently cannot affor to take any of its earler projects public and the infrastructure spending requirement is NOW.

After the Temasek deal for 10% of GMR Energy was announced yesterday, GMR has pulled a virtual second and third consecutive cheer, with the SBI Macquarie infra fund picking up $200m stake in the Aviation Infrastructure bids. 3i which earlier in the week announced its deal for toll highways has also flown in to GMR Airports with a $200m tab

http://economictimes.indiatimes.com/markets/real-estate/news-/GMR-in-talks-with-3i-Macquarie-SBI-Infra-to-raise-450-mn/articleshow/5277152.cms" style="padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-weight: normal; text-decoration: none; color: rgb(38, 80, 163); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial;">From ET: GMR want(ed) to sell a minority stake in the airport subsidiary to raise cash for investments in infrastructure and power. The airports business, which includes the Hyderabad and Delhi airports, account for 45% of the group’s revenues.