The board of GMR Infrastructure Ltd. (GIL), that manages airports in Delhi and Hyderabad, announced on Thursday a demerger of its airport and non-airport businesses.Under the demerger plan, GMR Power Infra Ltd. has been merged with the urban infrastructure arm under GMR Power and Urban Infrastructure Ltd. with the airport business being the only entity under GMR Infrastructure Ltd.The GMR Group said in a press statement that after the restructuring, GMR Infrastructure will be India’s only pure-play listed airports company.“At an initial stage of growth journey, a combined housing of various segments such as Airports, Energy, Urban Infrastructure, SEZ, EPC,was required to incubate, seed, ramp-up and grow them, both from management and funding perspective to reach a stage where they can stand and sustain on their own. These businesses have grown disproportionately over a period of time and are now at varied stages of their evolution from an overall Industry perspective. As these businesses mature and chase next phase of their growth, it would be strategically apt to segregate them,” a press statement from GIL said.
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