Thursday, January 11, 2018

GMR Infrastructure is looking to raise between Rs4,000-5,000cr

GMR Infrastructure is looking to raise between Rs4,000-5,000cr through the listing of its airport holding company, as per media reports. The proceeds from the fundraising is to be used for reducing debt and expansion of the business.

The report further added that GMR is working with at least five banks on the issue, which is expected to hit the markets in the April-June quarter. The listing of the entity is also expected to provide an exit for incumbent private equity investors.

GMR’s net debt stood at Rs143bn as of Q2FY17. The company owns or operates airport assets in Delhi, Hyderabad, Goa, Philippines and Greece. Airports formed 58.5% of GMR’s total consolidated net revenues as of H1FY18.
11/01/18 IIFL

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