GMR Infra eyes asset sales to beat liquidity crunch
Soon after country's largest real estate developer, DLF Ltd sold some of its assets to raise money for repaying debts, there is yet another who will have to bite the dust now. As per media reports, GMR Infrastructure Ltd is planning to raise around $200 million by selling stakes in road projects.
For that, the company is in talks with some private equity investors. GMR has not made any formal announcement as yet.
The liquidity has worsened with every rate hike by RBI during the past two years and persistent high inflation has also triggered the input costs of these players, with time.