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GMR Airports has raised Rs 1,100 crore through the issuance of non-convertible bonds on a private placement basis. The management committee of the company's board on Tuesday allotted 1,10,000 rupee-denominated listed, unsecured, rated, redeemable non-convertible bonds on the private placement basis on receipt of Rs 1,100 crore, according to a regulatory filing. The bonds have a coupon rate of 5 per cent and a tenure of 36 months. The coupon shall be payable annually until the date of redemption and the bonds do not carry any special right/interest/privileges, the filing said. GMR Airports operates three airports in India -- Delhi, Hyderabad and Goa -- and two airports in the Philippines and Indonesia.
Swinging into the black, GMR Airports Ltd (GAL) on Tuesday reported a profit after tax of Rs 202 crore for the three months ended December 2024. GAL, which owns the airport business of GMR Group, had posted a loss of Rs 486 crore in the year-ago period. These figures are after tax from continuing operations. In the third quarter of the current fiscal, the company's net income rose to Rs 2,081 crore from Rs 1,738 crore a year ago, according to a regulatory filing. Airports at Delhi and Hyderabad, which are under GAL, saw rising air traffic in the 2024 December quarter. At the Delhi airport, passenger traffic "increased to 20.3 million, up by 8.1 per cent YoY from 18.8 million in Q3 FY24," the filing said. GMR Group also operates Goa airport as well as two airports in the Philippines and Indonesia.
Telangana government has issued orders sanctioning Rs 205 crore for acquiring over 280 acres of land for the development of Mamnoor Airport at Warangal, after GMR Group which manages Hyderabad Airport issued "No Objection" certificate for operation of the aerodrome. According to the GO issued on Sunday, the Airports Authority of India (AAI) in July 2022, informed the state government that it is ready to develop Warangal Airport for A-320 type of aircraft for IFR (instrument flight rules) operations and is ready to bear the infrastructure cost, operational and maintenance of the proposed airport. A master plan has been prepared for the operation of A-320 type of aircraft for which an additional land measuring 253 acres is required from the state government of Telangana, free of cost and free from all encumbrances. The AAI also wanted the state government to take up the proposal and expedite handing over of the required land to the airports body and no objection certificate from ...
Private equity player GQG Partners has hiked its stake in GMR Airports Infrastructure to 5.17 per cent by snapping up additional shares worth over Rs 433 crore through open market transactions. GQG Partners, also a key investor in Adani Group, purchased 0.43 per cent stake in GMR Airports Infrastructure on August 23, according to a regulatory filing on Wednesday. Prior to the transactions, GQG Partners held a 4.74 per cent shareholding in the company. Through its affiliates, Fort Lauderdale-based asset management firm GQG Partners acquired an additional 0.43 per cent or over 4.52 crore shares. At the closing price of Rs 95.85 apiece on August 23, the shares are worth more than Rs 433 crore. Earlier, GQG Partners held 7.66 per cent stake in the company but due to corporate actions, the shareholding reduced below 5 per cent, as per the filing. "On August 23, 2024, the acquirer and PACs (Persons Acting in Concert) acquired further shares of the company, resulting in their shareholdin