GMR Infrastructure may explore options to unlock value in the Delhi Daredevils team which it owns, say CNBC-TV18 sources GMR has sounded off to bankers about it's intention and is seeking valuation of around $200--$250 million for Daredevils. The Infra company will explore part sale only if it gets appropriate valuations. The process of sale will be used for GMR's expansion plans.
In 2008, GMR had bought the franchisee rights for Daredevils, which plays in the annual Indian cricket competition called---Indian Premier League for $84 million with a three year lock-in period.
The company had spent close to Rs 22 crore for signing up players, including New Zealand Captain Daniel Vettori, Pakistan speedster Mohd Asif and ex-Australian fast bowler Glenn McGrath, besides Indian players including Dinesh Kaarthick and Manoj Tiwary.
Delhi Daredevils had Greg Shippard as its coach and TA Sekar for managing the team's cricket operations
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