GMR Airports secures Rs. 800 Crore Funding

GMR Airports (Grandhi Mallikarjuna Rao Airports), the holding company which operates Delhi, Hyderabad, and Goa airports has raised Rs. 800 crore from group of Standard Chartered Bank, Varde Partners and Aditya Birla Special Situation Fund. The company will install investments into its subsidiaries, joint ventures, associate companies or any other Airport group firm.

Out of Rs. 800 crore, Standard Chartered Bank Singapore raised Rs. 400 crore, Credit Solution India Trust governed by Varde Partners provided Rs. 300 crore and Aditya Birla Special Situation Fund invested Rs. 100 crore.

All of these companies jointly raised funds to GMR Airports for two years and eleven months. By means of this, since November GMR Airports and two SPV (Special Purpose Vehicles) which are GMR Goa International Airport and GMR Visakhapatnam International Airport have mutually invested over Rs. 8,400 crore for capex and refinancing.

Since the month of December, 2023, this funding process marks a part of the ongoing capital raising efforts by GMR Airports and its joint subsidiaries adding up over ₹8,400 crore.

In India, totally the GMR Group has eight airport assets under process in various stages of development. In Particular, Delhi, Hyderabad, Goa and Cebu in the Philippines are operational whereas Bhogapuram - Andhra Pradesh, Bidar - Karnataka, Crete - Greece and Medan - Indonesia are working under development. Also the company GMR Group has won the tender to undertake the Nagpur airport.