GMR Group Secures Rs 6,300 Crore from ADIA for Debt Refinancing

GMR Group has obtained Rs 6,300 crore in debt funding from Abu Dhabi Investment Authority to refinance the debt of GMR Enterprises Pvt Ltd. This move will consolidate multiple lenders into a single source of capital and strengthen the growth of GMR Airports Ltd.

GMR Group announced on Wednesday a Rs 6,300 crore debt funding agreement with the Abu Dhabi Investment Authority (ADIA). These funds will refinance the debt of its promoter group entity, GMR Enterprises Pvt Ltd (GEPL).

GEPL, which promotes GMR Airports Ltd, oversees operations in Indian airports, namely Delhi, Hyderabad, and Goa, as well as in the Philippines and Indonesia. The deal requires compliance with specific conditions and regulatory approvals.

GMR Chairman Kiran Grandhi highlighted the group's efforts to reduce corporate debt and the strategic reorganization of their airport assets, with the ADIA investment bolstering GEPL's financial structure and the continued growth of GMR Airports Ltd.

(With inputs from agencies.)