GVK Power & Infrastructure shares jump 16 per cent on likely airport unit IPO

GVK Power & Infrastructure shares closed over 16 per cent higher on Tuesday, after Reuters on Monday reported the company is likely to file for an up to $250 million initial public offering (IPO) of its airport unit soon.

GVK has mandated Citigroup, Bank of America - Merrill Lynch, Axis Capital and JM Financial Services to manage the IPO, sources said.

Shares of GVK Power & Infrastructure ended at Rs 9.51 apiece on the Bombay Stock Exchange, up 16.40 per cent or 1.34 points.

Reflecting a similar trend, the scrip was trading at Rs 9.45 per share on the National Stock Exchange, up 16.67 per cent or 1.35 points.

(Reuters)