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GMR divests 30% in energy assets
Posted on 10th May 2016
Bengaluru-based GMR Group will disinvest 30 per cent in its 10 energy assets to a Malaysian power utility for $300 million (Rs 2,000 crore).

The management committee of GMR Infrastructure Limited (GIL) on Monday approved the primary capital investment by Tenaga Nasional Berhad (Tenaga) in GMR Energy Limited (GEL).

GMR to sell 51% in road venture to cut debt by Rs 1,000 cr
Posted on 26th March 2016
GMR Infrastructure Limited and GMR Highways Limited have signed a share purchase agreement with joint venture partners to divest 51 per cent stake in GMR OSE Hungund Hospet Highways Private Limited (GOHHHPL).

GMR OSE operates the Hungund-Hospet section of National Highway No 13, which is a 99-kilometre (km) project in Karnataka, which was won by the GMR OSE consortium in 2010 on 'design, build, finance, operate, and transfer' basis.

GMR Infra gets favourable verdict on Axis Bank debt arbitration in Maldives
Posted on 24th February 2016
MUMBAI: GMR Infrastructure got a big relief in its ongoing arbitration in Maldives after the tribunal there ruled that the damages to be paid by the government of the country and Maldives Airport Company for dismissing the company from running the Male airport will also include sums owed to Axis Bank Singapore for the project.

In 2012, by the government of Maldives and Maldives Airport Company terminated the concession agreement with GMR Infrastructure's arm GMR Male International Airport (GMIAL) alleging that it was void ab initio and initiated an international arbitration.

GMR Infra firms up after Q3 net narrows to Rs 379 cr
Posted on 12th February 2016
Shares of GMR Infrastructure were up over 1%, in an otherwise weak market, after net loss for the December 2015 quarter reduced to Rs 379 crore compared with Rs 638 crore in the same quarter last year because of higher operating margins from power projects.

Consolidated total income increased 29% to Rs 3,564 crore during December 2015 quarter from Rs 2,761 crore in the quarter ended December 2014.

GMR Infra net loss narrows to Rs 379 cr in Q3
Posted on 11th February 2016
GMR Infrastructure today reported narrowing of its consolidated net loss to Rs 379.38 crore for the December quarter on the back of resolution of regulatory bottlenecks and better operating margins from power plants.

The company's consolidated net loss after tax, minority interest and shares of loss of associates in the corresponding quarter in the previous fiscal was Rs 638.33 crore, it said in a BSE filing.

IRB, GMR seek Sebi nod for first infrastructure investment trust
Posted on 8th February 2016
Mumbai: IRB Infrastructure Developers Ltd and GMR Infrastructure Ltd have sought the capital markets regulator’s approval to launch India’s first infrastructure investment trust (InvIT).

In the application to the Securities and Exchange Board of India (Sebi), both IRB and GMR have identified assets they want to list under these trusts.

GMR Group’s office attacked in Kathmandu
Posted on 6th January 2016
Kathmandu: A group of unidentified men on Tuesday hurled a petrol bomb at the Kathmandu-based office of Indian infrastructure major GMR Group, which is developing major hydropower projects in Nepal, amid the ongoing Madhesi stir.

Additional Inspector General of the Metropolitan Police Commissioner’s office Pratap Singh Thapa said window panes of the building were shattered but there was no casualty, Nepal news website MyRepublica reported.

GMR Infra move
Posted on 26th December 2015
New Delhi, Dec. 25 (PTI): Diversified group GMR Infrastructure today said agreements had been executed for the proposed restructuring of holdings in GMR Airports Ltd (GAL).

Under the pacts, GMR Infrastructure will be entitled to purchase the "equity securities" held by the private equity investors in GAL before June 5, 2017.

Jaypee Group to sell cement arm by March for Rs 19,500 cr
Posted on 8th December 2015
Two private equity firms and a strategic partner are in the race to buy the Jaypee Group's cement business at an enterprise valuation of close to Rs 19,500 crore.

The sale is expected to be concluded by next March, according to a source. ICICI Securities, which is managing the sale, has asked the three bidders to give their offers. The proceeds will be used by Jaiprakash Associates to retire a part of its Rs 61,285 crore debt held in 2014-15, down from Rs 72,599 crore in 2013-14 (see chart).

GMR raises Rs 2,000 cr from Kuwait Investment
Posted on 5th December 2015
In the first such bond issue under the new Reserve Bank of India (RBI) guidelines notified on Monday, GMR Infrastructure will get Rs 2,000 crore ($300 million) from Kuwait Investment Authority (KIA). It is the largest bilateral investment between India and the West Asian country in recent times.

The two sides signed a definitive agreement on Tuesday under which the Kuwaiti authority would subscribe to a 60-year-long Foreign Currency Convertible Bond (FCCB) due 2075 to be issued by GMR Infrastructure, the flagship company of the GMR Group.

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