GMR Airports (GAL), the airport business holding entity and a subsidiary of GMR Airports Infrastructure and NIIF (National Investment and Infrastructure Fund) have entered into a financial partnership for NIIF to invest in the equity capital of three airport projects.
These include the greenfield international airports at Mopa, Goa and Bhogapuram, Andhra Pradesh. The transaction envisages NIIF making a primary investment of Rs 6.31 billion in the form of Compulsory Convertible Debenture (CCD) in GMR Goa International Airport (GGIAL), a special purpose vehicle to run and operate the New Goa Airport. The transaction is subject to customary completion conditions & necessary approvals. This investment shall be NIIF’s first investment in an airport asset in the country and its first direct investment in the state of Goa.
GMR Airports Infrastructure (formerly known as GMR Infrastructure) is engaged in generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) contracting activities and operation of airports and special economic zones.
| Company Name | CMP |
|---|---|
| Dreamfolks Services | 82.77 |
| GMR Airports | 97.06 |
| View more.. | |
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