GVK Power News

GVK Power and Infrastructure Limited on Friday said it has decided to exit from Bangalore International Airport Limited by selling its 10 percent stake to Fairfax India Holdings Corporation for Rs 1,290 crore (approximately $200 million).

 GVK Power and Infrastructure today said it will divest 33 percent stake in Bangalore International Airport Ltd (BIAL) to Fairfax India Holdings Corporation for Rs 2,149 crore.

GVK Power & Infrastructure has acquired 100 per cent stake in GVK Airport Services Pvt Ltd, a new subsidiary that will provide technical and consultancy services on the airport business of the firm.

GVK Power and Infrastructure Ltd today said Vertex Projects Ltd, part of promoter group, has offloaded 14.44 percent share in the company to other promoter entities.

GVK Power and Infrastructure Ltd Friday said its consolidated net loss for the quarter to December widened to Rs 209.12 crore, hit by fuel supply issues and higher interest costs.

GVK is setting up a 2x270 MW Thermal Power Plant at Goindwal Sahib tehsil in Tarn Taran district of Punjab, and both the units have been synchronised to the grid.