Abu Dhabi Investment to Invest $750M in GMR Group's Debt

24 Oct 2024 CW Team

The Abu Dhabi Investment Authority (ADIA), recognized as the UAE's largest sovereign wealth fund, plans to invest approximately $750 million in the debt of India's GMR Group, thereby establishing a presence in one of the fastest-growing aviation markets globally.

This investment will also enable GMR Group to reduce the pledged shareholding related to its airports business.

ADIA's funds will be allocated to structured debt instruments of GMR Enterprises (GEPL), the holding company for GMR Group, which holds nearly a 25% stake in GMR Airports.

The capital will be used to refinance all external debt of GMR Enterprises, which aims to significantly lower its pledge on the shareholding of GMR Airports, as stated by GMR Group in an exchange filing.

According to GMR Enterprises' latest annual report, the total debt increased by nearly 4% year-on-year to Rs 44.77 billion. GMR Group Corporate Chairman Kiran Grandhi remarked that the investment from ADIA would facilitate the repayment of all external debt at GEPL, thereby strengthening their ability to support the ongoing growth of GMR Airports.

It is anticipated that India's domestic passenger traffic will double to 300 million by 2030.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..