GMR Airports seeks Rs 50 bn expansion funds

10 Aug 2023 CW Team

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.

Real Estate

11 May 2026

Danube Launches Greenz Villa Community in Dubai

Danube Properties has launched Greenz by Danube, a fully furnished master villa community in Dubai, unveiled by H.E. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, at an event attended by over 7,000 investors and business leaders.Located near Dubai International Academic City and Dubai Silicon Oasis, the development marks Danube’s first large-scale integrated villa community and is positioned within one of Dubai’s emerging residential corridors.The project will comprise three and four-bedroom townhouses along with five-bedroom semi-detached and twin villas...

ABB Launches IE6 Motor for Hazardous Industrial Areas

ABB has introduced what it claims is the world’s first IE6 Hyper-Efficiency motor certified for hazardous industrial environments under ATEX and IECEx standards.The new Increased Safety motor is based on ABB’s synchronous reluctance (SynRM) technology and is designed without magnets or rare earth materials. According to the company, the motor reduces energy losses by up to 60 per cent compared to standard IE3 induction motors commonly used in hazardous areas.The motor is intended for use in industries such as chemicals, marine, oil and gas, pharmaceuticals and food and beverage, where expl..

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..