GMR Infrastructure, the flagship company of the infrastructure major, is going through a restructuring exercise that will result in it retaining just the airport business.
The rest of its verticals - energy, EPC and urban infrastructure - will be carved out under GMR Power and Urban Infra Limited (GPUIL). At present, both GPUIL and GMR Power Infra, that housed the energy business, were units of GIL.
"The restructuring is a step in the right direction towards creating pure plays in different businesses of the Group thereby attracting sector-specific global investors and unlocking value for the current shareholders of GIL," the company, which runs airports in Delhi and Hyderabad, said on August 27.
After the scheme, GIL will emerge as the country's only pure-play listed airports company.
"Separate listing of both the airport and non-airport businesses will also help in simplifying the corporate holding structure. The vertical split demerger will go a long way in facilitating a deeper understanding of the airport business independently as compared to other business verticals within the Group," it added.Following the details of the Scheme of Arrangement: