GMR Airports surges 6% on heavy volumes after arm raises funds via NCDs

The proceeds from the NCDs will be utilized for partial refinancing of $100 million of the existing FCBs of 2024

Shares of GMR Airports Infrastructure surged 6 per cent to Rs 42.02 on the BSE in Wednesday's intra-day trade amid heavy volumes, after its arm GMR Hyderabad International Airport (GHIAL) successfully raised Rs 840 crore via Non-Convertible Debentures (NCDs).

The stock was quoting close to its 52-week high level of Rs 44.30, touched on December 9, 2022. At 12:42 pm, it was up 5 per cent at Rs 41.55 on back of five-fold jump in trading volumes. A combined 25.93 million equity shares had changed hands on the NSE and BSE till then.

GHIAL, a subsidiary of GMR