GVK is trying to reduce its debt burden to strengthen its balance sheet and focus on its core infrastructure business. GVK and Indian Hotels didn’t comment. A mailed query to GIC on Tuesday remained unanswered.Back in 2010, GIC, along with Actis, invested in GVK’s power assets. Half of that growth is expected to come from new assets and management contracts, and monetisation of existing hotels. "Taj–GVK shares have fallen 12.68% in the past one year, underperforming the benchmark Sensex, which gained 7.8% in the period.

Source: Economic Times July 18, 2019 01:30 UTC