GMR Airports Secures Major Funding with Non-Convertible Bonds

GMR Airports has successfully raised Rs 1,100 crore through non-convertible bonds via private placement. The bonds, which are rupee-denominated, rated, and redeemable, carry a 5% annual coupon rate with a 36-month tenure. GMR Airports manages airports in India, the Philippines, and Indonesia.

GMR Airports has raised a significant amount of Rs 1,100 crore by issuing non-convertible bonds on a private placement basis, according to a regulatory filing.

The issuance involved allotting 1,10,000 rupee-denominated, unsecured, redeemable non-convertible bonds, which carry a 5% coupon rate and a 36-month tenure. The bonds were issued upon receipt of the specified amount.

GMR Airports, known for managing vital aviation hubs including those in Delhi, Hyderabad, and Goa in India, as well as facilities in the Philippines and Indonesia, continues to strengthen its financial footing with this strategic move.

(With inputs from agencies.)