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Adani group eyes new venture as it joins race for six AAI airports
Posted on 23rd February 2019
The Adani group, which straddles the businesses of power, ports, real estate, agriculture and defence, among others, is moving into airports.

A few days ago, the group made an aggressive entry by bidding for all the six airports put up for privatisation by the Airports Authority of India, locking horns with big boys in the airport infrastructure business (the GMR group has thrown its hat into the ring for all the airports).

GMR, GVK, Doit Smart Infra file bids for Bhogapuram airport project in AP
Posted on 23rd February 2019
Three companies — GMR, GVK, and Doit Smart Infrastructure India — have submitted their bids for green-field Bhogapuram International Airport project. The deadline for filing of bids ended on Friday.

A senior official of the Andhra Pradesh Airports Development Corporation, the government nodal agency handling the bidding process, has confirmed the development.

GMR, Terna sign agreement for new airport in Greece; to invest 500 mn euros
Posted on 22nd February 2019
GMR Infrastructure on Friday said its subsidiary GMR Airports and its Greek partner Terna Group have signed a concession agreement for construction of the new international airport in Greece's island Crete.

The consortium intends to invest over EUR 500 million (approx Rs 4,034.28 crore) for development of the new airport, GMR Infrastructure said in a regulatory filing.

GMR Infra suffers Rs 561-cr loss in Q3, energy and highway businesses bleed
Posted on 15th February 2019
GMR Infrastructure Limited has said it suffered Rs 561.04 crore loss for the quarter ended December 31, 2018 against Rs 578.40 crore loss for the same quarter in FY18.

According to a regulatory notice filed Thursday night, the infra major said the total income during the quarter under discussion stood at Rs 2,119.87 crore down from Rs 2,276 crore in Q3FY18.

GMR Aero Square: New hospitality way
Posted on 25th January 2019
The GMR Group on Thursday announced the introduction of ‘GMR Aero Square’ in the Hospitality District of Delhi International Airport Limited. In a unique concept for Indian airport, GMR Aero Square offers easy access to the commercial hubs of Aerocity from public places. It has been developed amid lawns and landscape leading to Terminal 3 of the IGIA.

Hyderabad airport: MAHB cancels stake sale pact with GMR
Posted on 4th January 2019
Malaysia Airports Holding Bernhard (MAHB) said that it has terminated the share purchasing agreement (SPA) with the GMR Group for selling its 11% stake to the latter in Hyderabad airport as the company did not fulfil the obligations as per the agreement before December 31.

GMR Infrastructure in February, 2018 said its subsidiary GMR Airports entered into an agreement with Malaysia Airports Holding Berhad and its subsidiary to acquire 11% of the stake that the Malaysian company is holding in GMR Hyderabad International Airport, for $76 million.

Malaysia Airports Holding cancels Hyd airport stake sale pact with GMR
Posted on 3rd January 2019
Malaysia Airports Holding Berhad has said it terminated the Share Purchasing Agreement (SPA) with the GMR Group for selling its 11 per cent stake to the latter as the Indian infra major did not fulfil the obligations as per the agreement before December 31.

GMR subsidiary signs agreement to develop commercial port in Andhra Pradesh
Posted on 22nd November 2018
Kakinada Gateway Port Limited, a subsidiary of GMR-owned Kakinada SEZ Limited (KSEZ), has signed a concession agreement with Andhra Pradesh government for development of a green-field commercial port on design, built, finance, operate and transfer basis in Kona village of East Godavari District.

GMR Infra arm signs pact with APGDC for piped natural gas supply
Posted on 12th October 2018
GMR Infrastructure on Thursday said its arm Kakinada SEZ had inked a pact with Andhra Pradesh Gas Development Corporation (APGDC) for supply of piped natural gas.

“Kakinada SEZ, a subsidiary of GMR Infra, signed an MoU with APGDC to get access to piped domestic natural gas for its upcoming 10,500-acre zone,” the company said in a filing to BSE.

GMR Infra seals deal with three PE investors, gives 5.8% in airport firm
Posted on 9th October 2018
GMR Infrastructure will give Rs 35.6 billion by way of cash and 5.86 per cent stake in its airport holding company to three private equity (PE) investors, ending two years of litigation.

The immediate cash payout works out to around Rs 15 billion, as the three investors are to give new loans of Rs 20.05 billion as part of the transaction. In 2010-11 and 2011-12, GMR Group had raised Rs 14.78 billion via compulsorily convertible preference shares from SBI Macquarie, Standard Chartered Private Equity, JM Financial Old Lane and others.

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