Abu Dhabi Investment to Invest $750M in GMR Group's Debt
ECONOMY & POLICY

Abu Dhabi Investment to Invest $750M in GMR Group's Debt

The Abu Dhabi Investment Authority (ADIA), recognized as the UAE's largest sovereign wealth fund, plans to invest approximately $750 million in the debt of India's GMR Group, thereby establishing a presence in one of the fastest-growing aviation markets globally.

This investment will also enable GMR Group to reduce the pledged shareholding related to its airports business.

ADIA's funds will be allocated to structured debt instruments of GMR Enterprises (GEPL), the holding company for GMR Group, which holds nearly a 25% stake in GMR Airports.

The capital will be used to refinance all external debt of GMR Enterprises, which aims to significantly lower its pledge on the shareholding of GMR Airports, as stated by GMR Group in an exchange filing.

According to GMR Enterprises' latest annual report, the total debt increased by nearly 4% year-on-year to Rs 44.77 billion. GMR Group Corporate Chairman Kiran Grandhi remarked that the investment from ADIA would facilitate the repayment of all external debt at GEPL, thereby strengthening their ability to support the ongoing growth of GMR Airports.

It is anticipated that India's domestic passenger traffic will double to 300 million by 2030.

The Abu Dhabi Investment Authority (ADIA), recognized as the UAE's largest sovereign wealth fund, plans to invest approximately $750 million in the debt of India's GMR Group, thereby establishing a presence in one of the fastest-growing aviation markets globally. This investment will also enable GMR Group to reduce the pledged shareholding related to its airports business. ADIA's funds will be allocated to structured debt instruments of GMR Enterprises (GEPL), the holding company for GMR Group, which holds nearly a 25% stake in GMR Airports. The capital will be used to refinance all external debt of GMR Enterprises, which aims to significantly lower its pledge on the shareholding of GMR Airports, as stated by GMR Group in an exchange filing. According to GMR Enterprises' latest annual report, the total debt increased by nearly 4% year-on-year to Rs 44.77 billion. GMR Group Corporate Chairman Kiran Grandhi remarked that the investment from ADIA would facilitate the repayment of all external debt at GEPL, thereby strengthening their ability to support the ongoing growth of GMR Airports. It is anticipated that India's domestic passenger traffic will double to 300 million by 2030.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000