GMR airports to raise Rs 19.50 bn debt at 13%+ yield

21 Nov 2023 CW Team

GMR Airports Holdings is planning to secure Rs 19.50 billion through a high-yield debt offering with a coupon rate of 13.275% and a three-year tenure.

It was disclosed by informed sources that Credit Solutions India Trust has committed Rs 5 billion as the anchor investor for this offering.

The coupon rate comprises a 5% cash coupon and an 8.275% redemption premium paid on an annual basis. An 'A-' rating has been assigned to the issue by Care Ratings, and the subscription book is set to open on November 20.

According to one of the sources, GMR is offering higher coupons because it is borrowing money at the holding company level.

It was reported last week that GMR Goa Airport had raised funds at a rate of 10%. Queries made to a GMR spokesperson did not receive an immediate response.

GMR Airports Holdings, which acts as the parent company for Delhi International Airport (DIAL) and GMR Hyderabad International Airport (GHIAL), intends to utilize the funds raised to refinance its outstanding non-convertible bonds (NCBs). Additionally, sources suggest that the surplus funds will be directed towards investments and potential stake purchases in subsidiaries.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..