The company will use this amount to fund the acquisition of Freppt’s stake in the Delhi International Airport (Dial). GMR Airports said in September last year that it buys 10% stake in the dial of the German Airport Operator Perator for 6 126 million.
The transaction comes at a time when GMR Airport is mainly transferred from the holding company to the operating petition entity, after the transfer of Delhi Duty Free Operations in the company since 2025.
Currently rated BBB+ with a steady point of view, Bonds withdrew the coupon payment due to the first pending on March 31, 2025.
“There is a strategic transaction for GMR airports to integrate their shareholding at Delhi Airport,” the head of India at Deutsch Bank.
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GMR is actively restructuring its debt to reduce borrowing costs. In June, Dial refinances $ 450 million in foreign debts at a higher cost in domestic bonds. Its integrated net debt, excluding foreign currency convertible notes, is ₹ 29,700 crore, which is operated by forex effects on the capital costs of Dolar Lar Bonds and Delhi Airport for the Bhogapuram Airport project.
The group has recently collected 6,300 crores from Abu Dhabi’s Sovereign Wealth Fund Adia, which will help with its promoter entity, GMR enterprise.
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