GMR Airports seeks Rs 50 bn expansion funds
AVIATION & AIRPORTS

GMR Airports seeks Rs 50 bn expansion funds

GMR Airports Infrastructure Ltd announced its intention to raise funds amounting to Rs 50 billion in a board meeting scheduled for August 14. The meeting will also address the release of the company's unaudited financial results for the quarter ending in June. The decision, as per a regulatory filing, involves exploring options to secure the funds in one or more instalments. 

This could be achieved through the issuance of securities, including Qualified Institutions Placement, Foreign Currency Convertible Bonds, or other relevant securities. However, the proposal is contingent upon the endorsement of shareholders and compliance with relevant legal regulations.

GMR Group, renowned for operating major airports like those in Delhi, Hyderabad, and Goa, seeks to leverage these funds for its operations and expansion initiatives. In light of this development, the company's shares on the Bombay Stock Exchange witnessed a marginal increase of over 1%, reaching a closing value of Rs 52.11 apiece. The move to secure substantial funds reflects GMR's strategic approach to fortify its financial position and potentially fuel its growth trajectory.

GMR Airports Infrastructure Ltd announced its intention to raise funds amounting to Rs 50 billion in a board meeting scheduled for August 14. The meeting will also address the release of the company's unaudited financial results for the quarter ending in June. The decision, as per a regulatory filing, involves exploring options to secure the funds in one or more instalments. This could be achieved through the issuance of securities, including Qualified Institutions Placement, Foreign Currency Convertible Bonds, or other relevant securities. However, the proposal is contingent upon the endorsement of shareholders and compliance with relevant legal regulations.GMR Group, renowned for operating major airports like those in Delhi, Hyderabad, and Goa, seeks to leverage these funds for its operations and expansion initiatives. In light of this development, the company's shares on the Bombay Stock Exchange witnessed a marginal increase of over 1%, reaching a closing value of Rs 52.11 apiece. The move to secure substantial funds reflects GMR's strategic approach to fortify its financial position and potentially fuel its growth trajectory.

Next Story
Technology

Building Faster, Smarter, and Greener!

Backed by ULCCS’s century-old legacy, U-Sphere combines technology, modular design and sustainable practices to deliver faster and more efficient projects. In an interaction with CW, Rohit Prabhakar, Director - Business Development, shares how the company’s integrated model of ‘Speed-Build’, ‘Smart-Build’ and ‘Sustain-Build’ is redefining construction efficiency, quality and environmental responsibility in India.U-Sphere positions itself at the intersection of speed, sustainability and smart design. How does this translate into measurable efficiency on the ground?At U..

Next Story
Infrastructure Transport

Smart Roads, Smarter India

India’s infrastructure boom is not only about laying more kilometres of highways – it’s about building them smarter, safer and more sustainably. From drones mapping fragile Himalayan slopes to 3D machine-controlled graders reducing human error, technology is steadily reshaping the way projects are planned and executed. Yet, the journey towards digitisation remains complex, demanding not just capital but also coordination, training and vision.Until recently, engineers largely depended on Survey of India toposheets and traditional survey methods like total stations or DGPS to prepare detai..

Next Story
Real Estate

What Does DCPR 2034 Mean?

The Maharashtra government has eased approval norms for high-rise buildings under DCPR 2034, enabling the municipal commissioner to sanction projects up to 180 m on large plots. This change is expected to streamline approvals, reduce procedural delays and accelerate redevelopment, drawing reactions from developers, planners and industry experts about its implications for Mumbai’s vertical growth.Under the revised DCPR 2034 rules, buildings on plots of 2,000 sq m or more can now be approved up to 180 m by the municipal commissioner, provided structural and geotechnical reports are certified b..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?