GMR Airports Infra raises ₹2,900 crore from Groupe ADP

21 Mar 2023 CW Team

“..Entering into a Strategic Partnership with Groupe ADP in early 2020 to create a world class airport platform whereby Groupe ADP agreed to purchase 49% stake in GAL. At the time of the transaction, Groupe ADP had pegged equity earnouts of ~8% of GAL and cash earnouts of Rs 10.6 billion to GIL," the company said in an exchange filing.

Aéroports de Paris and GMR Airports Infrastructure Ltd. agreed to merge their joint venture, giving ADP a liquid stake in an Indian airfield company. ADP and GMR Airports Infrastructure own 49% and 51% of the unlisted GMR Airports Ltd, respectively. The merger of GMR Airports Infrastructure and GMR Airports will simplify the unlisted company's capital structure, allowing the combined entity to more easily capture new business, according to the companies.

According to the companies, the merger will take place in the first half of 2024. ADP would own 45.7% of GMR Airports Infrastructure and GMR Airports combined.

“Demand for air travel has picked up substantially, which will speed up airport privatisation initiatives of the respective governments across the world," GMR said in a separate statement.

ADP will invest €331 million ($353 million) in GMR Airports Infrastructure foreign currency convertible bonds, with the proceeds used by the Indian company to clear its balance sheet by repaying corporate debt and settling a significant portion of its liabilities. According to ADP, the investment will result in a cash expense of the same amount in the coming weeks.

GMR Airports Infrastructure Limited (GIL) announced the approval of the composite scheme of amalgamation and arrangement of GMR Airports Limited (GAL) with GIL by its board (Merger). It will borrow Rs. 29 billion from Aéroports de Paris SA (Groupe ADP) over a 10-year period. GMR Group will continue to be GIL's single largest shareholder and will retain management control. “..Entering into a Strategic Partnership with Groupe ADP in early 2020 to create a world class airport platform whereby Groupe ADP agreed to purchase 49% stake in GAL. At the time of the transaction, Groupe ADP had pegged equity earnouts of ~8% of GAL and cash earnouts of Rs 10.6 billion to GIL, the company said in an exchange filing. Aéroports de Paris and GMR Airports Infrastructure Ltd. agreed to merge their joint venture, giving ADP a liquid stake in an Indian airfield company. ADP and GMR Airports Infrastructure own 49% and 51% of the unlisted GMR Airports Ltd, respectively. The merger of GMR Airports Infrastructure and GMR Airports will simplify the unlisted company's capital structure, allowing the combined entity to more easily capture new business, according to the companies. According to the companies, the merger will take place in the first half of 2024. ADP would own 45.7% of GMR Airports Infrastructure and GMR Airports combined. “Demand for air travel has picked up substantially, which will speed up airport privatisation initiatives of the respective governments across the world, GMR said in a separate statement. ADP will invest €331 million ($353 million) in GMR Airports Infrastructure foreign currency convertible bonds, with the proceeds used by the Indian company to clear its balance sheet by repaying corporate debt and settling a significant portion of its liabilities. According to ADP, the investment will result in a cash expense of the same amount in the coming weeks. See also: NIIF to invest Rs 6.31 bn in GMR’s Mopa, Goa airport GMR Group to invest 50,000mn in Bhogapuram Airpor

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..

Real Estate

17 Sep 2025

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 ..

Infrastructure Transport

17 Sep 2025

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..