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As GMR’s demerger nears, all eyes are on airports valuation

GMR Infra’s demerger plan has entered the final leg. Will a separate listing of its airport business unlock value for investors?

October 01, 2021 / 09:44 AM IST
As GMR’s demerger nears, all eyes are on airports valuation

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The COVID-19 pandemic has delivered a body blow to the travel sector. Yet, shares of GMR Infrastructure, that operates airports and develops infrastructure projects, are showing no signs of stress. In fact, they hit a new 52-week high on Thursday, rising 66 percent from the year ago and 74 percent from pre-pandemic levels. As the pandemic restricted travel, revenues at GMR slumped, widening losses at the group level in FY21. A business recovery in the current year was delayed by the second wave, and ratings agencies have warned about a possible...

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