GMR Infrastructure has stated that as part of its ongoing business activities as permitted under the applicable laws and regulations, GMR's subsidiary Delhi International Airport Limited (DIAL)had initiated a two stage international competitive bidding process inviting applications from entities with relevantexperience for the development of retail assets on approx. 23 acres of Land at the Delhi Airport.
The Request for Qualification (RFQ), first stage of the aforementioned bidding process, was initiated on 5th November 2015 inviting applications for the qualification of entities with relevant experience and financial capacity through advertisements in domestic and internationalnewspapers and on DIAL's website. This was also communicated in our Investor Presentation in February 2016 which is available on our group website.
Thereafter based on the applications received, second stage of the bidding process was initiated on 6th April 2016, whereby the RFP documents have been shared with the shortlisted players inviting them to submit their financial proposals. We shall keep the regulators informedonce the transaction is concluded and final decisions are made.
The company said "We are not aware of any information that is not announced to the Exchange, which could explain the movement in the price of share of our Company."
The Exchange has sought clarification from GMR Infrastructure Limited with respect to recent news item captioned "GMR led DIAL to sell 22-25 acres of land near Delhi Airport".