GMR GROUP (G M RAO)
The G M Rao owned GMR Group was one of the first debt-ridden companies to sell their assets in the market and it had managed to offload Rs. 11,000 crore worth of its Road, Power and Coal assets in the past two years. G M Rao’s total debt is around Rs. 48,000 crores and against it, the company is offering only Rs. 5,000 crore worth of assets for sale, said the sources.
According to the sources, The group is planning to raise about Rs 5,000 crore this year by selling land parcels, energy assets and a stake in airport subsidiary. Last month, it announced it was selling part of a road project in Karnataka, to help reduce debt by more than Rs 1,000 crore. It also plans to sell 30 per cent of its stake in its airport arm, which is valued at Rs 10,000 crore. — NEXT PAGE —-
