GMR Airports board approves fundraising plan of up to ₹5,000 crore

New Delhi: GMR Airports Ltd’s board has approved a proposal to raise up to ₹5,000 crore via the issuance of securities, according to a regulatory filing released following the meeting held on August 21. 

The enabling resolution allows the company to mobilize funds in one or more tranches through instruments including fully paid-up equity shares, non-convertible debentures, and possibly Foreign Currency Convertible Bonds (FCCBs). 

In a concurrent development, the board also sanctioned the creation of a wholly-owned subsidiary—structured as a Special Purpose Vehicle (SPV)—to drive development of the “cargo city” project at Indira Gandhi International Airport (IGIA), a report said.

Spanning approximately 50.5 acres, this project will be led by a SPV under GMR Airports’ purview, marking another strategic step in its infrastructure expansion efforts.  

GMR Airports, which operates major hubs like Delhi, Hyderabad, and Goa, is leveraging this fundraising push as part of its broader capital strategy to bolster infrastructure development and enhance financial flexibility. 

The cargo city project at IGIA stands out as a flagship initiative, emphasizing the firm’s commitment to expand its aviation infrastructure footprint.