GMR Infra is now India’s first pure-play airports listed company

17 Jan 2022 CW Team

On Tuesday the GMR Infrastructure Limited (GIL), a company currently operating in Delhi and Hyderabad airports as well as constructing others, transformed into the first pure-play airport listed company in India. The infrastructure company has now de-merged from the other non-airport verticals. These include GMR Power and Urban Infrastructure Limited (GPUIL).

The current shareholders of the company will get one equity share of Rs 5 (FV) of the GMR Power and Urban Infra Limited for holding 10 equity shares of Rs 1(FV) share of every GMR Infra Limited.

The demerger took place via a vertical split that resulted in both GIL and GPUIL listed companies and their shareholding. The current GIL shareholders will be shareholders of GPUIL according to the same proportion.

According to the statement, in February 2022 post getting approvals from SEBI the independent trading of GPUIL shares will commence.

GIL is now the only pure-play airport platform in the country, having the potential for generating such a solid cash flow.

As per CAPA, the company is the second-largest private airport operator in the world after France’s VINCI Airports. Out of all the airport developers in India, it is the only one having such a strong international presence.

The per annum passenger capacity (pre-Covid) of the GIL’s airport portfolio is around 18.2 crore. The operating airport locations include Delhi, Hyderabad, Philippines, and Indonesia.

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