Page 4 - Gmr Airports

GMR Airports purchases 11% more stake in GMR Hyderabad Airport for $100 mn

GAL also owns a majority in Delhi International Airport Limited (DIAL), which runs the Delhi airport

GMR Airports, affiliates to buy 11% additional stake in Hyderabad airport

GMR Aiports holds a 63% stake in GMR Hyderabad International Airport (GHIAL). The acquisition will raise its stake to 74%

GMR Airports hits over 13-year high; soars 45% in 1 month on solid earnings

The company said air passenger traffic would gain further momentum with addition of routes and airline capacity

GMR Airports Infrastructure plans to raise Rs 5,000 cr in Aug 14 meeting

GMR Airports Infrastructure Ltd on Tuesday said its board will consider raising funds of up to Rs 5,000 crore during the meeting on August 14. At the meeting, the board will also consider the company's unaudited financial results for the quarter ended June, according to a regulatory filing. The board will consider "raising of funds up to Rs 5,000 crore in one or more tranche(s), through issue of securities including a Qualified Institutions Placement and/or Foreign Currency Convertible Bonds and/or any other securities as an enabling resolution as per the requirements of applicable laws which shall be subject to the approval of shareholders and other regulatory and/or statutory approvals, as applicable," it said. Among others, GMR Group operates airports in Delhi, Hyderabad and Goa. Shares of the company rose more than 1 per cent to close at Rs 52.11 apiece on the BSE.

GMR announces divestment of warehouse facility located at Hyderabad Airport

GHIAL signed the definitive agreements and closed the transaction with ILP Core Ventures I PTE Limited at an enterprise value of Rs 188.1 crore

CCI clears GMR Airports Infrastructure-Aeroports de Paris SA deal

Fair-trade regulator CCI on Friday said it has approved the proposed deal of GMR Airports Infrastructure and Aeroports de Paris SA (ADP) under the green channel route. The proposed combination involves ADP's proposed acquisition of and subscription to foreign currency convertible bonds (FCCB) issued by GMR Airports Infrastructure Ltd, according to a CCI notice. The Competition Commission of India (CCI) has cleared the deal. It has also given nod to the proposed intra-group merger of GMR Airports Ltd and GMR Infra Developers Ltd (GIDL) with and into GMR Airports Infrastructure Ltd. Also, the regulator has given its nod to the proposed acquisition by ADP (and its group entities) of equity shares and optionally convertible redeemable preference shares of GMR Airports Infrastructure post-merger, CCI said. On March 19, GMR Airports Infrastructure Ltd (GIL) announced the merger of GMR Airports Ltd with GIL. ADP is an international airport operator owned by the French Government, while G

Top headlines: Govt to bring down tax burden, Foxconn gets Karnataka's nod

Business Standard brings you the top headlines at this hour

ADP merger likely to give wings to GMR Airports Infrastructure stock

Current fair value of Rs 48-Rs 50 indicates room for upside

Stocks to Watch: Tata Consumer, NTPC, RVNL, GMR Airports, Havells, SKF

Stocks to Watch: Tata Consumer Products ceased negotiations with Bisleri for a potential acquisition. It said no definitive agreement or binding commitment has been signed on this matter

ADP, GMR Airports infrastructure to merge joint venture with GMR

ADP and GMR Airports Infrastructure own 49% and 51%, respectively, of the unlisted GMR Airports Ltd., according to a statement Sunday from the French company

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

GMR Airports Infra shares settle with marginal gains after Q3 earnings

Shares of GMR Airports Infrastructure settled with marginal gains on Wednesday after the firm reported a PAT of Rs 104.82 crore for December quarter 2022-23. The stock of the firm soared 0.79 per cent to close at Rs 38.45 on the NSE. On the BSE, it went up 0.66 per cent to end at Rs 38.40. In volume terms, 5.57 lakh shares of the firm were traded on the BSE and 1.01 crore shares on the NSE, during the day. The 30-share BSE Sensex index closed 242.83 points or 0.40 per cent higher at 61,275.09 on Wednesday. On Tuesday, GMR Airports Infrastructure reported a consolidated profit after tax (PAT) of Rs 104.82 crore for December quarter, against a loss of Rs 515.34 crore in the year-ago period. Revenue from operations during the quarter under review was Rs 1,766.36 crore as against Rs 1,364.13 crore a year ago, the company said in a regulatory filing. On a standalone basis, the company reported a loss of Rs 9.61 crore for Q3 FY23, while revenue from operations stood at Rs 28.44 crore,

GMR Airports Infrastructure posts Rs 105 crore profit in December quarter

GMR Airports Infrastructure on Tuesday reported a consolidated profit after tax of Rs 104.82 crore in the December quarter, against a loss of Rs 515.34 crore in the corresponding period of the previous fiscal. The revenue from operations during the quarter under review grew 29 per cent to Rs 1,766.36 crore from Rs 1,364.13 crore in the third quarter of fiscal 2021-22, GMR Airports Infrastructure Ltd said in a regulatory filing. On a standalone basis, the company reported a loss of Rs 9.61 crore in Q3 FY23 from Rs 706.23 crore in the October-December period of FY22, while revenue from operations stood at Rs 28.44 crore as against Rs 8.85 crore earlier.

Very tough path ahead for new entrants like Akasa, Jet 2.0: GMR official

Julian Carr, the firm's CMO, says it will be "fascinating" to see how IndiGo's desire to grow further progresses when Air India aims to become a big full-service domestic and international carrier

NIIF to make investment of Rs 631 crore in GMR Group's Mopa airport in Goa

The investment will be made via compulsory convertible debentures in GMR Goa International Airport, the special purpose vehicle (SPV), which will operate the new airport in Goa

GMR Hyderabad International Airport plans to raise Rs 1,250 crore via NCDs

GMR Hyderabad International Airport Ltd (GHIAL), which runs the aerodrome here, plans to raise Rs 1,250 crore through non-convertible debentures to be used for prepaying the USD bonds maturing in April 2024 or February 2026, rating agency India Ratings & Research has said. GHIAL (excluding subsidiaries) had a debt of Rs 7,050 crore as on September 30, 2022 which consisted of bonds of USD 950 million. The USD bonds have bullet maturities in April 2024, February 2026 and October 2027, the rating agency said. "The proposed INR 12,500 million (Rs 1,250 crore) NCDs will be entirely used for prepaying the bonds maturing in April 2024 or February 2026. Depending on the cash accruals, refinancing of the debt is likely to be required in April 2024," it said while assigning "IND AA/Stable" rating to the proposed bonds. The agency also assigned "IND AA/Stable" rating to GHIAL's proposed Rs 250 crore bank loan. GHIAL is undertaking expansion to improve the capacity of the airport to 34 ...

GMR Airports Infra posts Rs 546 cr Q2 standalone loss on higher expenses

GMR Airports Infrastructure on Monday posted a standalone comprehensive loss of Rs 546.14 crore in the September quarter, mainly due to higher expenses. The company had a total comprehensive income of Rs 405.16 crore in the same period a year ago, according to a regulatory filing. These figures include net loss on fair valuation through other comprehensive income of equity securities. On the standalone basis, the company's losses from continuing operations narrowed to Rs 15.60 crore in the second quarter of the current fiscal. The loss from continuing operations stood at Rs 26.73 crore in the year-ago period. GMR Airports Infrastructure's total income stood at Rs 26.34 crore in the quarter ended September 2022, higher than Rs 0.36 crore registered in the same period a year ago. However, the total expenses jumped to Rs 41.94 crore in the latest quarter under review from Rs 27.09 crore in the year-ago period. The company had demerged its non-airport business and later the name was

GMR Group to divest entire 40% stake in Philippines' Cebu airport

GMR Group on Friday said it will divest its entire 40 per cent stake in Cebu international airport in Philippines for an upfront payment of Rs 1,330 crore as well as earnouts to be received over a period of more than four years. The airport is being operated by GMR-Megawide Cebu Airport Corporation (GMCAC) and GMR Airports International BV (GAIBV) holds a 40 per cent stake in the venture. A definitive agreement has been signed between GMR Airports International BV (GAIBV) and Aboitiz InfraCapital Inc (AIC) for the divestment of stake in Cebu airport. AIC is the infrastructure arm of the Philippines-based Aboitiz Group. According to a regulatory filing, the stake is being divested as part of the focus on deleveraging GMR Airports Ltd and churning assets for higher returns on investment. "The transaction will be undertaken at an enterprise value of PhP 49.7 billion (INR 70.5 billion) and GAIBV will receive an upfront amount of PhP 9.4 billion (INR 13.3 billion) in lieu of the shares

GMR Infra to raise Rs 6,000 crore for cities around three airports

Group power company to raise Rs 3,000 cr separately

Philippines' Megawide, partner selling airport project stakes for $440 mn

Philippines' Megawide Construction Corp and its Indian partner are selling their shares in an airport developer and operator, in a deal worth $439.8 million, Megawide said in a disclosure