Home / Companies / News / GMR group to list airport business, raise Rs 5,000 crore via securities

GMR group to list airport business, raise Rs 5,000 crore via securities

This will be the first airport company to be listed on the Indian stock exchanges

gmr, airport, air passengers, air traffic

Premium

Standalone listing of the airport business will help the GMR’s airport business which earns 59.5 percent of the group’s total revenue

Arindam Majumder New Delhi

3 min read Last Updated : Aug 27 2020 | 11:48 PM IST

India’s largest airport operator, GMR, has decided to separately list its airport business. The company’s board on Thursday passed a proposal that will see the holding company, GMR Infrastructure, demerge into airport and non-airport entities.

The board also approved fund-raising of up to Rs 5,000 crore through issuing securities. Sources said the company was in talks with investment banks to launch a qualified institutional placement (QIP) before the end of this calendar year.

According to the restructuring process, the non-airport business, comprising energy, urban infrastructure, and EPC services, will be moved to GMR Power and Urban Infra Ltd (GPUIL) as a going

Topics : GMR Infrastructure GMR Airports GMR Energy GMR group stock market listing Air passenger traffic Delhi airport Hyderabad airport QIP

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in