GMR Group secures Rs 6,300 crore investment from ADIA

GMR Group has announced a important concern of Rs 6,300 crore from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The backing volition beryllium allocated to structured indebtedness instruments issued by GMR Infra Enterprises Private Limited (GEPL), pending regulatory approvals and definite conditions, according to the authoritative release.

This strategical concern aims to refinance the outer indebtedness of GEPL, which is the promoter of GMR Airports Limited (formerly GMR Airports Infrastructure Limited). The determination is expected to importantly trim the GMR promoter group’s pledge connected its shareholding successful GMR Airports Limited, allowing for greater fiscal flexibility.

"Through this exercise, GEPL volition beryllium capable to consolidate aggregate lenders into a single source of capital," said authoritative release. 

Kiran Grandhi, Corporate Chairman of GMR Group, emphasised the company’s committedness to reducing firm indebtedness implicit the years. He highlighted caller restructuring efforts, including the demerger of GMR Power and Urban Infra Limited from GMR Airports Infrastructure Limited, and the consequent merger that resulted successful the enactment of GMR Airports Limited arsenic a focused, publically listed airdrome platform. Grandhi stated, "This concern from ADIA volition facilitate the repayment of each outer indebtedness astatine GEPL, strengthening our quality to enactment the continued maturation of GAL.”

ADIA’s Executive Director for the Infrastructure Department, Khadem AlRemeithi said, “India’s aviation assemblage has beardown maturation prospects, backed by the affirmative semipermanent fundamentals of the Indian economy, portion GMR Group is 1 of the country’s starring airdrome operators. This concern aligns with our attack of backing entities which are processing satellite people transport assets that payment from demographic maturation and accrued economical connectivity.”