GMR Airports Infra to merge subsidiary with itself, raise Rs 2,900 crore from Groupe ADP

GMR Airports Infrastructure, the erstwhile GMR Infra Ltd., has announced a Composite Scheme of Amalgamation and Arrangement of GMR Airports (GAL) with GMR Airports Infrastructure. Post the completion of the merger, GMR Airports Infra will continue as a listed public entity.

The merger is expected to be completed within the next financial year following relevant approvals.

GMR Airports Infra will also raise Rs 2,900 crore from Groupe ADP via Foreign Currency Convertible Bonds (FCCBs), which will be due in 2033. The FCCBs will convert at a price of Rs 43.67, which is a premium of 10 percent to the FCCB regulatory floor price.