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GVK Power and Infrastructure has bought a 12% stake in
In an interview to CNBC-TV18, GVK Reddy, Chairman of GVK Power & Infrastructure, spoke about the latest happenings in his company.
Below is a verbatim transcript of an exclusive interview with GVK Reddy on CNBC-TV18. Also watch the accompanying video.
Q: What kind of stake have you picked up and at what price?
A: The stake is from
Q: What is the total payout cost for GVK in order to acquire this 12% stake?
A: We have to pay them about Rs 480-485 crore.
Q: Is there an option to increase your stake further? You have indicated that
A: The option is there but the moment we get in there, all the stakeholders who want to sell, they want to give a first right of refusal to other stakeholders. So when they give an offer to other stakeholders, whoever is interested can take over. Larsen & Toubro (L&T) has already offered their 7% stake to others.
Q: What does this take your total stake to in the
A: Out of 100%, 26% is owned by the government. The breakup is - 13% by the state government and 13% by the airport authority. Siemens own 40%, L&T owns 17% and
Q: Can you give us a sense of what kind of revenue potential there is for GVK Power with this acquisition of 12% stake? What kind of footfalls, revenue has the
A: I cannot answer that immediately because I have to check the numbers.
Q: It is currently a profit making entity?
A: It is likely that they are going to make about Rs 30-40 crore profit this year and maybe next year. I cannot tell you the correct number unless we run through the H1 financials.
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