GVK Power & Infrastructure shares gained over 14 per cent in early trading 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.
The stock is heading towards its biggest daily gain since May 19, 2014.
At 10:00 am, shares of GVK Power & Infrastructure were trading at Rs 9.34 apiece on the Bombay Stock Exchange, up 14.32 per cent or 1.17 points.
Reflecting a similar trend, the scrip was trading at Rs 9.25 per share on the National Stock Exchange, up 14.20 per cent or 1.15 points.
(Reuters)
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