GMR Infrastructure News

After the deal, the company`s net debt will fall to 120 billion rupees, from 200 billion rupees in December 2018, while GMR Airports` debt will halve to 10 billion rupees.

GMR Group is a leading global infrastructure conglomerate with interest in various sectors including airport, energy and transportation.

Shares of GMR Infrastructure on Friday ended with nearly 14 percent gains, adding Rs 1,238.11 crore to its market valuation, on reduction in the company's gross debt.

GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.

 GMR Infrastructure on Friday denied selling controlling stake in Hyderabad Airport but added that it is exploring opportunities to raise funds. 

 GMR Infrastructure said on Monday that it has approved the proposed primary capital investment by Malaysian power utility Tenaga Nasional Berhad (Tenaga) in GMR Energy Ltd (GEL).​

"GMR Highways and GMR Infrastructure have signed a share purchase agreement with its joint venture partners to divest 51% stake in GMR OSE Hungund Hospet Highways Pvt Ltd (GOHHHPL)," GMR Infrastructure said in a BSE filing.  

Kuwait Investment Authority has agreed to subscribe to a 60-year-long foreign currency convertible bonds (FCCB) due 2075.

GMR Infrastructure on Saturday said its consolidated net loss in July-September quarter narrowed to Rs 398.67 crore on the back of better operating margins from power plants and robust traffic growth in airports.

GMR Holdings, the parent firm of GMR Infrastructure, Tuesday said its Board will consider the proposal of amalgamation with GMR Enterprises on May 29 as part of its corporate restructuring exercise.

GMR Airports, a subsidiary of GMR infrastructure, has acquired 10 percent additional stake from Malaysia Airports (Mauritius) Private Limited for a consideration of USD 80 million, raising its stake to 64 percent in Delhi International Airport Limited.

GMR Infrastructure has inked a pact with GIIC of China to set up units at its special economic zone (SEZ) in Andhra Pradesh`s Kakinada, which will attract an investment of $3.5 billion over the next five years, a company statement said on Monday.

GMR Infrastructure Monday said it has inked pact with Guizhou International Investment Corp (GiIC), a consortium of three Chinese manufacturing firms, to set up units at its SEZ in Kakinada, a move that will see USD 3.5 billion worth of investments in the next 5 years.

GMR Infrastructure Tuesday said three of its promoters have pledged 19.13 percent stake in the firm in a series of transactions in the last week of April.

GMR is not required to provide significant investment for the project since it is on an EPC basis, the statement added.

A GMR Infrastructure-led consortium has bagged an order for construction of 417 km-long eastern dedicated freight corridor railway project which is estimated to cost Rs 5,080 crore.

GMR Infrastructure will acquire shares from investors in its subsidiary GMR Airports as the company looks to consolidate its holdings.

Diversified group GMR Infrastructure's key promoter GMR Holdings has pledged 16.8 crore shares or about 3.85 percent stake in the company.

Delhi International Airport Ltd (DIAL), a subsidiary of GMR Infrastructure, has exited from cargo services at the Delhi airport by selling its entire stake to India Infrastructure Fund for Rs 29 crore.

GMR Infrastructure on Saturday reported a consolidated net loss of Rs 638.33 crore for the third quarter ended on December 31 due to higher finance cost.