GMR Infrastructure Demerges Non-Airport Business, Becomes a Pure-Play Airports Company

According to the demerging terms, GMR Infrastructure Ltd’s existing shareholders would get one equity share of GMR Power and Urban Infra Limited for holding ten equity shares of GIL.

Highlights:

  • GMR Infrastructure has started trading on stock exchanges as a pure-play airports company.
  • GPUIL shares will be up in the stock market as an independent entity from February 2022.
  • All current shareholders of GIL will become shareholders of GPUIL.

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GMR Infrastructure

GMR Infrastructure Ltd (GIL), the operators and developers of Delhi airport and Hyderabad airport, separated its non-airport businesses into GMR Power and Urban Infra Limited (GPUIL). With this new division, GIL became an independent entity and has started trading on stock exchanges from today as a pure-play airports company. The stock, which opened at Rs 43.50, hit a high of Rs 46.65 on the first day and closed at Rs 44.80.

“With this development, first-time investors now have the opportunity to invest in the country’s airports’ sector,” a statement from GMR Infra said.

According to the demerging terms, GMR Infrastructure Ltd’s existing shareholders would get one equity share of GMR Power and Urban Infra Limited -- each at face value of Rs 5 -- for holding ten equity shares of Rs 1(face value) share of each GMR Infrastructure Ltd. Thus, all current shareholders of GIL will become shareholders of GPUIL.

“The demerger also facilitates strategic partnerships at different platforms allowing businesses to raise capital and leverage synergistic advantages,” GIL said.

Both companies are publicly traded companies with mirror shareholdings. GPUIL shares will be up for sales in the stock market as an independent entity from February 2022 after the approval from SEBI.

GMR Infrastructure Ltd has become the only pure-play airport platform with significant potential in India. According to the data in pre-COVID days, GIL’s airport portfolio has a passenger capacity of around 18.2 million per year, which is growing every day.

GMR Infra is the world’s second-largest private airport operator

According to CAPA, GMR Infrastructure is the world’s second-largest private airport operator, after France’s VINCI Airports. It is the only Indian airport developer with a significant international footprint.

GMR Infrastructure Ltd operates and manages Indira Gandhi International Airport in New Delhi, Rajiv Gandhi International Airport in Hyderabad, Mactan Cebu Worldwide Airport in the Philippines (in partnership with Megawide), and Medan Airport in Indonesia (in collaboration with Indonesia’s Angkasa Pura II).

New upcoming projects are Mopa in Goa and Heraklion Worldwide Airport in Crete, Greece (in partnership with GEK Terna). GIL is slated to construct Bhogapuram greenfield airport in Andhra Pradesh in India. It has additionally signed the concession settlement to fee, operationalise and preserve the civilian enclave on the Bidar Airport in north Karnataka.

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Ria is a lead news writer at Aviation Scoop. She writes from dawn to dusk, reads in the evenings, and draws at some ungodly hours. She loathes human interaction and finds solace in the sweet, musky smell of old books, and rain.

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