According to some reports, Singapore's Changi Airports Group might be planning to acquire a 26 per cent stake in GVK Airports unit in a deal worth around 2,200 crore.

GVK Power & Infrastructure Ltd has said in a filing with the Bombay Stock Exchange (BSE) that it normally looks for business partners for growth in various industries within and outside India, but the group or any of its subsidiaries has not entered into an agreement with any company for a stake sale.

GVK also said that it does not respond to speculative news as a company policy and said that it is not aware of the sources of such reports indicating a stake purchase by Changi. Changi group operates Singapore's international airport and has planned to invest between Rs. 2000 crore and Rs. 2200 crore for acquiring the stake, according to the reports.

The shares of GVK Power & Infrastructure rose 7.54% at Rs. 11.84 at the time of reporting this morning on the BSE following reports of a possible acquisition of stake by the international firm. About 43.60 lakh shares were traded on the stock exchange compared to a daily average of 22.04 lakh shares in the last one quarter. GVK's overall airport business is optimistically estimated to be worth Rs. 8000 crore.