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GMR Airports' subsidiary completes 70% stake purchase in group co
Economic Times
·
21d ago
Medial
GMR Airports Ltd's subsidiary, GMR Hyderabad International Airport Ltd (GHIAL), has completed the acquisition of a 70% stake in ESR GMR Logistics Park Pvt Ltd, enhancing its airport-based industrial and warehousing assets. GHIAL, which already held a 30% stake, acquired the additional shares for over Rs 41 crore. This strategic move aims to strengthen GMR's logistics capabilities in Hyderabad. Following the announcement, GMR Airports' shares rose 1.44% on the BSE.
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GMR eyes foreign funds, low cost of capital with merger completion
Livemint
·
1y ago
Medial
GMR Group expects a decline in debt cost for its airports following the merger of GMR Airports Ltd with GMR Airports Infrastructure Ltd. The merger is anticipated to be completed by March, doubling the market capitalization of the listed entity and attracting significant flows from passive funds and foreign fund managers. Cheaper access to capital will also reduce the cost of capital for GMR. GMR Airport Infrastructure's portfolio includes airports in Delhi, Hyderabad, Nagpur, Goa-Mopa, and others. The company is also on track to complete expansion projects at Delhi and Hyderabad airports by March.
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GMR Airports raises stake in Delhi airport to 74% as Germany's Fraport exits
VCCircle
·
10m ago
Medial
India's GMR Airports Infrastructure has increased its stake in Delhi International Airport to 74% by purchasing Germany's Fraport's 10% interest for $126 million. The Airports Authority of India will retain its 26% stake in the airport. The deal follows the collapse of the airport's roof due to heavy rainfall last month. GMR Airports also has stakes in Hyderabad's Rajiv Gandhi International Airport and Goa's Manohar International Airport. Fraport expects the deal to help reduce its debt and is anticipating a closing within 180 days, pending approval from the Airports Authority of India and GMR shareholders.
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UAE's ADIA to invest $750 mn in GMR Group's debt
VCCircle
·
8m ago
Medial
Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the UAE, is set to invest approximately $750 million in the debt of Indian company GMR Group. This investment will give ADIA exposure to the rapidly expanding aviation market in India and allow GMR Group to reduce its shareholding pledge on its airports business. The funds will be used to refinance GMR Group's external debt and strengthen its ability to support the growth of GMR Airports.
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GMR Group secures Rs 6,300-crore investment from Abu Dhabi Investment Authority
Money Control
·
8m ago
Medial
The GMR Group has secured a Rs 6,300-crore investment from the Abu Dhabi Investment Authority for its structured debt instruments. The completion of the transaction is subject to conditions precedent and regulatory approvals. Once completed, the proceeds will be used to refinance the external debt of GMR Enterprise Private Ltd (GEPL), reducing the GMR promoter group's pledge on its shareholding in GMR Airports Ltd (GAL). This investment further strengthens the UAE's position as a major investor in India's airport infrastructure space.
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GQG Partners buys 0.8 per cent stake in Airtel for over $700 million
Thehindubusinessline
·
1y ago
Medial
US investment firm GQG Partners has acquired a 0.8% stake in Indian telecom company Bharti Airtel from Singapore Telecommunications (Singtel) for $712.5m. Singtel sold 49 million shares at INR 1,193.7 each, reducing its stake in Airtel to 29%. GQG Partners made headlines in March 2023 when it invested in Adani Group companies. The firm has also invested in other Indian firms, including JSW Energy, Patanjali Foods, IDFC First Bank and GMR Airports Infrastructure, with its India portfolio valued at around $22bn. Singtel said the deal was part of its capital recycling efforts to unlock value.
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'Interested only in bidding for AAI stake in Mumbai, other AAI airports'
Livemint
·
1y ago
Medial
The Adani group will bid for the Airports Authority of India's (AAI's) stake in Mumbai airport but will not bid for AAI's stake in Delhi, Bengaluru, and Hyderabad airports, according to Karan Adani, the managing director of Adani Ports and Special Economic Zone (APSEZ). The group plans to bid only for airports that the government plans to put up for auction. Adani also stated that the group is focused on branding and strengthening its core businesses, which includes ports, airports, and energy. The Adani group is currently the majority stakeholder in Mumbai International Airport Ltd.
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ACC completes acquisition of Asian Concretes and Cements
Livemint
·
1y ago
Medial
ACC Ltd, a subsidiary of Ambuja Cement Ltd owned by Adani, has acquired the remaining 55% stake in Asian Concretes and Cements Private Ltd (ACCPL) for ₹425.96 crore ($57 million). The acquisition was funded internally and brings ACC's ownership of ACCPL to 100%. This acquisition raises ACC's total cement production capacity to 38.55 MTPA and increases the Adani Group's overall capacity to 77.40 MTPA. The group aims to expand this capacity to 106 MTPA by FY26. ACCPL operates a cement plant in Himachal Pradesh and a subsidiary in Punjab.
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Flying to Delhi, Mumbai to get costlier as GMR, Adani win case over tariff math
Livemint
·
6d ago
Medial
A tribunal ruling has allowed GMR Airports and Adani Airport Holdings to increase their revenue from the Delhi and Mumbai international airports, potentially raising airport charges by approximately 6% over the next decade. This decision, however, may result in higher costs for airlines and passengers at two of India’s busiest airports. Analysts suggest this could impact airlines like IndiGo, whose sales might face an equivalent 3.4% increase in costs.
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GMR Sports eyes strategic investors to unlock value: CEO
Livemint
·
1y ago
Medial
GMR Sports, the sports management division of GMR Group, is considering strategic options like a public listing or securing a strategic or financial investor to unlock its value. The company owns IPL franchise Delhi Capitals and has interests in Pro Kabaddi and Ultimate KhoKho franchises. GMR Sports also owns teams in international leagues like Dubai Capitals in UAE's International League T20 and is set to acquire a minority stake in Seattle Orcas, a Major League Cricket franchise. The company aims to participate in multiplayer sports in India and limit itself to cricket internationally.
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Sequoia-backed Prataap Snacks on the block; Varde may back GMR
VCCircle
·
1y ago
Medial
Prataap Snacks, the maker of Yellow Diamond Chips, is reportedly in discussions to sell a controlling stake, with Sequoia Capital leading the transaction. The founders, Mehta and Kumat families, may also be involved in the stake sale. Meanwhile, Varde Partners is considering investing in GMR Airports' upcoming bond sale. Fintech unicorn Slice is seeking $100 million in equity funding for the merged entity with North East Small Finance Bank. However, an investment deal between Walmart-backed PhonePe and Dunzo's merchant network business did not progress due to concerns about majority ownership by Walmart.
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