GVK Power and Infrastructure Ltd (GVKPIL), which provides generation, operation, and maintenance services to power plants in country is presently looking to divest stake in its roads and power ventures.

Latest reports suggest that the company is presently in talks with at least five players for divesting up to 49 per cent stake in these two segments. However, the company said that it would retain a majority stake of at least 51 per cent in these segments.

Informing about the latest development, a senior company official said, "The discussion have just begun and it will take some time for things to crystallize." He further stated that the company was not desperate to find partners. The firm will dilute the stakes only if the valuations look attractive.

According to sources, it would take at least three to six months for the due diligence to be completed and for the non-binding term sheets to be converted into binding term sheets.

The consolidated revenues of GVKPIL for the nine months ended December 31, 2009, stood at Rs 346.82 crore, including Rs 230.23 crore from the power segment, Rs
107.34 crore and another Rs 9.24 crore from airport, aviation, investment and SEZ companies.

The company invested a total capital of Rs 2470.17 crore in these sectors.