GVK looking to sell stake in two key road assets

Infrastructure firm GVK Power and Infrastructure is looking to sell stake in two key road projects, reports CNBC-TV18 quoting unnamed sources. The company is hoping to raise as much as Rs 1200 crore, as it looks to reduce its staggering Rs 18,000-plus of debt on books.CNBC-TV18 learns that GVK is looking to sell stake in the Jaipur-Kishangarh project and the Bagodara- Vasad project. Private equity firms, SBI-Macquarie one of them, have shown interest in the two projects, CNBC-TV18 learns.GVK is also considering the option of hiving all its road projects into a separate entity and has hired bankers to evaluate the assets. In response to a query from CNBC-TV18, GVK said it cannot comment on market speculation.

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