GMRAIRPORT

MUMBAI, Aug 28 (Reuters) - India's Delhi International Airport plans to raise 10 billion rupees ($114.28 million) selling bonds maturing in 15 years, two merchant bankers said on Thursday.

The company has invited bids from bankers and investors on Friday, and the coupon would be payable on a quarterly basis and will be reset at the end of the fifth year and 10th year.

The bonds would also have a staggered redemption and will mature equally from the end of sixth year to maturity.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 28:

* Size includes base plus greenshoe for some issues

($1 = 87.5060 Indian rupees)

(Reporting by Dharamraj Dhutia)

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Aug 21 (Reuters) - GMR Airports Ltd GMRI.NS:

• APPROVED ENABLING RESOLUTION FOR RAISING OF FUNDS UP TO 50 BILLION RUPEES

• FORMATION OF SPV FOR UNDERTAKING CARGO CITY PROJECT BY DELHI INTERNATIONAL AIRPORT

Further company coverage: GMRI.NS

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MUMBAI, Aug 8 (Reuters) - India's GMR Airports GMRI.NS plans to raise 59 billion rupees ($673.47 million) through the sale of bonds maturing in 18 months as well as in three years, three merchant bankers said on Friday.

The country's largest airport operator in terms of passengers will raise 15 billion rupees through the shorter duration bonds and 44 billion rupees through three-year papers.

It has invited bids from bankers and investors for both issues on Monday.

GMR Airports did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 8:

*Size includes base plus greenshoe for some issues

($1 = 87.6060 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Eileen Soreng)

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By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, July 31 (Reuters) - India's GMR Airports GMRI.NS has finalised the terms of what would be its biggest corporate debt issue as it aims to raise more than 60 billion rupees ($685.13 million), three sources aware of the developments said on Thursday.

The country's second-largest airport operator will raise 18 billion rupees through the sale of 18-month bonds. This issue is largely expected to be placed with mutual funds.

It will also raise around 42 billion rupees through the sale of three-year bonds, with large foreign lenders set to absorb this supply.

The company will pay an annual coupon of 10.50% on both the maturities, and the fundraising would be completed in the next few days, the sources added.

All the sources requested anonymity as the talks are still private.

GMR Airports did not respond to a Reuters email seeking comment.

The bonds of the company, which currently manages multiple airports including those in Delhi and Hyderabad, are rated A+ by Crisil.

($1 = 87.5740 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Janane Venkatraman)

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July 16 (Reuters) - GMR Airports Ltd GMRI.NS:

• HANDLED 30.2 MILLION PASSENGERS IN Q1 FY26, UP 3.3% Y/Y

• MUTED GROWTH IN DOMESTIC TRAFFIC IN MAY’25 & JUN’25 DUE TO GEOPOLITICAL EVENTS

Source text: ID:nBSEbCyZnG

Further company coverage: GMRI.NS

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By Khushi Malhotra and Dharamraj Dhutia

MUMBAI, July 15 (Reuters) - Two companies belonging to India's GMR Group are set to tap the corporate bond market in the coming days to raise an aggregate of 25 billion rupees ($291.27 million), three sources aware of the matter said.

GMR Airports Holdings Co, the holding company of the GMR Group's airport-related businesses is scouting the market to raise around 15 billion rupees through three-year bonds, the sources said.

Large mutual funds will heavily participate in this issue, one of the sources added.

"The yield could be in the high single digits or even a low double digit, which makes it an attractive proposition for debt funds," the source added.

Delhi International Airport (DIAL), a joint venture between GMR Airports and the Airport Authority of India, is also likely to raise 10 billion rupees through the sale of 15-year bonds.

Both GMR Airports Holdings and DIAL did not immediately respond to Reuters emails seeking comments.

"DIAL has already started talks with a private bank and a foreign bank to place the bond issue, and this should be done before the GMR issue," the second source said.

DIAL had last tapped the bond market in July 2024, when it raised 25.13 billion rupees through sale of 10-year bonds at 9.50% coupon payable quarterly.

($1 = 85.8300 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Janane Venkatraman)

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July 2 (Reuters) - GMR Airports Ltd GMRI.NS:

• GMR AIRPORTS LTD - APPELLANT TRIBUNAL QUASHES AERA HRAB CALCULATION, ORDERS RECALCULATION

Source text: ID:nNSE5hK1yp

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NEW DELHI, June 6 (Reuters) - The operator of Delhi International Airport, one of the world's busiest air hubs, said on Friday it would resume work to upgrade one of its runways after it was forced to cut short earlier efforts due to flight delays.

Delhi International Airport Limited, which is majority owned by GMR Airports GMRI.NS, said the work would take place for three months from June 15 to upgrade a system that helps aircraft land safely in low-visibility conditions.

(Reporting by Abhijith Ganapavaram; Editing by Jan Harvey)

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Adds chart 2

By Bharath Rajeswaran

May 14 (Reuters) - MSCI included two Indian companies fertilisers maker Coromandel International CORF.NS and beauty products retailer Nykaa FSNE.NS to its Global Standard index earlier on Wednesday, as part of its May 2025 index rejig.

No Indian stock has been deleted from the key global index. The changes will come into effect as of the markets close on May 30.

The inclusion could bring passive inflows worth $216 million-$227 million into Coromandel and $172 million - $181 million into Nykaa, according to IIFL Alternate Research and JM Financial estimates.

MSCI also added Coromandel and airport operator GMR Airports GMRI.NS into its India domestic index, while removing auto parts maker Sona BLW Precision Forgings SONB.NS.

While the flagship Global Standard index and Indian domestic indexes only saw minor tweaks, MSCI added 11 new stocks to its global small-cap index and deleted 21 stocks.

The more specific MSCI India domestic small-cap index saw the addition of 12 stocks and removal of 21 stocks.

Besides the additions, drug maker Cipla CIPL.NS, telecom infrastructure provider Indus Towers INUS.NS and textiles and chemicals maker Grasim Industries GRAS.NS are likely to see passive inflows of $33 million-$45 million, $36 million-$40 million and about $17 million due to the increase in their weights in the Global Standard index.

Astral could see outflows worth $15 million-$17 million due to weight reduction, according to IIFL Alternate Research and JM Financial estimates.

India's weight in the MSCI Global Standard index rose marginally to 19.4%, according to the IIFL Alternate Research. India had a weightage of about 19% in the index as of the previous revision in February.

In its last rejig in February, MSCI added carmaker Hyundai Motor HYUN.NS and removed Adani Green Energy ADNA.NS from its global standard index.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Rashmi Aich)

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By Abhijith Ganapavaram

NEW DELHI, April 21 (Reuters) - The operator of Delhi International Airport, one of the world's busiest airports, has paused works to upgrade one of its runways after passengers criticised lengthy flight delays, throwing the spotlight on increasing air traffic congestion in major cities in India.

Data from Flightradar24 showed about 400 arrivals and 500 departures were delayed on Sunday - about 60% and 76% of total flights, respectively - which Delhi International Airport Limited (DIAL) said was in part due to adverse wind patterns.

DIAL, which is majority owned by GMR Airports GMRI.NS, had shut one of its runways earlier this month to upgrade a system that helps aircraft land safely in low-visibility conditions. The airport has four runways in total.

DIAL will now resume operations on the runway in the first week of May after postponing remaining upgrade activities "for a month or so," it said in a post on X early on Monday. The upgrade works had come ahead of the busy summer travel season in India.

Passengers on social media complained of flights being delayed for hours on Sunday, both in the ground and in the air, raising concerns about stress on pilots.

DIAL pushed back against criticism in a series of X posts, saying plans for runway upgrades were done in consultation with airlines and other stakeholders over four months ago. It said adverse wind conditions had also played a role in the delays.

"When these easterly wind situations have been arising in the past few days...airlines have been advised, in accordance with pre-agreed plans, to adjust flight schedules. However, there was minimal to no changes made," DIAL said.

Delhi airport handled about 78 million passengers in 2024, making it the ninth busiest airport in the world, according to Airports Council International, as air travel booms in India post the pandemic.

To handle the surge in air travel, government authorities have planned for second airports that would serve congested cities such as Mumbai and Delhi. More airports would also accommodate the hundreds of aircraft ordered by domestic airlines IndiGo and Air India Group.

(Reporting by Abhijith Ganapavaram; Editing by Raju Gopalakrishnan)

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** Shares of airport operator GMR Airports GMRI.NS up 4.2% at 82.12 rupees, after hitting 3-month high of 83.2 rupees earlier

** Citi initiatives coverage with "buy" rating and PT of 90 rupees

** Says GMRI to turn profitable from FY26 as co fundamentally well-placed

** "GMR Airports has strong traffic outlook, headroom to non-aero spending, commercialization of landbanks and inorganic growth pipeline from government's airport privatization," it says

** Trade vol at 19.6 mln shares, compared to 30-day avg of 12.1 mln

** Stock up 5.6% YTD

(Reporting by Vivek Kumar M)

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By Abhijith Ganapavaram and Arpan Chaturvedi

NEW DELHI, March 17 (Reuters) - The operator of the Indian capital's international airport, majority owned by GMR Airports GMRI.NS, is suing the government for allowing commercial flights from a nearby defence aerodrome, legal papers show in a case to be heard on Monday.

The airport is one of India's busiest, with about 73.6 million passengers using it last year, though it made a loss of $21 million because of higher government fees. In contrast, by Sunday, the number of airbase users was about 1,400.

The Delhi airport will become "economically and financially unviable," after the government permitted commercial flights from the defence airbase in Ghaziabad, Delhi International Airport Limited (DIAL) said in the March 10 lawsuit.

In the suit, which Reuters is the first to report, DIAL told the Delhi High Court the government breached aviation rules barring a new airport within an aerial distance of 150 km (90 miles) of an existing one, unless there is passenger demand.

The state-run Airports Authority of India also has a stake in DIAL. India's civil aviation ministry did not immediately respond to e-mails seeking comment.

DIAL seeks to overturn the government's decision, and cites media reports for its contention that flights by Air India Express began operating in March from the Hindon Airforce Station, about 30 km (19 miles) from the Delhi airport.
DIAL is represented by Trilegal, a law firm based in India.

(Reporting by Abhijith Ganapavaram and Arpan Chaturvedi; Editing by Aditya Kalra and Clarence Fernandez)

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March 7 (Reuters) - GMR Airports Ltd GMRI.NS:

• ACQUIRES 10% EQUITY STAKE IN DIAL FROM FRAPORT

• SHAREHOLDING IN DIAL INCREASES TO 74%

Source text: ID:nNSEb0Kzpm

Further company coverage: GMRI.NS

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MUMBAI, Feb 20 (Reuters) - India's GMR Airports GMRA.NS plans to raise 11 billion rupees ($126.65 million) selling bonds maturing in three years, three bankers said on Thursday.

The company has invited coupon and commitment bids from bankers and investors for the issue on Monday, they said.

The company did not immediately reply to a Reuters' email seeking comment.

Here is the list of deals reported so far on February 20:

*Size includes base plus greenshoe for some issues

($1 = 86.8520 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)

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** Shares of GMR Airports GMRI.NS rise 2.7% to 73 rupees

** Airport operator posts Q3 consol net profit of 2.67 billion rupees ($30.84 million) vs yr ago loss of 3.17 billion rupees, boosted by increased air traffic in their Delhi and Hyderabad airports; rev up 19%

** Unit GMR Hyderabad International Airport declared interim dividend of 7.5 rupees/share, first time since 2019; reflects sustained strong profitability - Jefferies

** Stock trading below key 50-, 100-, 200- day moving avgs for nearly a month, indicating a bearish sentiment

** Stock fell 2.5% in 2024

($1 = 86.5880 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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Jan 28 (Reuters) - GMR Airports Ltd GMRI.NS:

• GMR AIRPORTS DEC-QUARTER CONSOL NET PROFIT 2.67 BILLION RUPEES

• GMR AIRPORTS DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 26.53 BILLION RUPEES

Source text: ID:nNSE20k43P

Further company coverage: GMRI.NS

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Jan 9 (Reuters) - GMR Airports Ltd GMRI.NS:

• GMR AIRPORTS - UNIT TO DIVEST 50% STAKE IN MEGAWIDE GMR CONSTRUCTION JV, INC

• GMR AIRPORTS - DEAL FOR CONSIDERATION OF$1.365 MILLION

Source text: [ID:]

Further company coverage: GMRI.NS

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Jan 8 (Reuters) - GMR Airports Ltd GMRI.NS:

• GMR AIRPORTS LTD - TO ACQUIRE SHARES OF BDGASPL

• GMR AIRPORTS LTD - TOTAL CONSIDERATION FOR ACQUISITION IS 150.2 MILLION RUPEES

Source text: ID:nNSEcgZG2d

Further company coverage: GMRI.NS

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Dec 16 (Reuters) - GMR Airports Ltd GMRI.NS:

• TOTAL PASSENGER TRAFFIC UP 14% YOY IN NOV

• TOTAL AIRCRAFT MOVEMENTS UP 8% Y/Y IN NOV

Source text: ID:nBSE6L2b9M

Further company coverage: GMRI.NS

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** GMR Airports GMRI.NS rises as much as 5.5% to 82.3 rupees

** Airport operator's October passenger traffic up 9% y/y to 10.7 mln

** Stock set to rise for a third straight session

** GMRI last up 5.4%, turning stock positive on YTD basis

(Reporting by Anuran Sadhu in Bengaluru)

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** GMR Airports GMRI.NS falls 4.2% to 79.1 rupees, its lowest in over four months

** Airport operator's September-quarter consol loss after tax widens to 4.29 bln rupees ($51 mln) vs year-ago 1.90 bln rupees

** Co raises funds up to 15 billion bln via issue of non-convertible bonds

** Stock down ~2% so far this year after jumping ~103% in 2023

($1 = 84.0670 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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Oct 24 (Reuters) - GMR Airports Ltd GMRI.NS:

• GMR AIRPORTS LTD SEPT-QUARTER CONSOL NET LOSS 2.80 BILLION RUPEES

• GMR AIRPORTS LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 24.95 BILLION RUPEES

• GMR AIRPORTS -RAISING FUNDS UP TO 15 BLN RUPEES VIA ISSUE OF NON-CONVERTIBLE BONDS

Further company coverage: GMRI.NS

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Oct 23 (Reuters) - India's GMR Group, which includes airport operator GMR Airports GMRI.NS, said on Wednesday that it has received a 63 billion rupee ($749.6 million) investment from a unit of Abu Dhabi Investment Authority.

($1 = 84.0500 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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Oct 16 (Reuters) - GMR Airports Ltd GMRI.NS:

• GMR AIRPORTS - SEPT TOTAL PASSENGER TRAFFIC UP 9% Y/Y

Source text for Eikon: ID:nNSE60fyDP

Further company coverage: GMRI.NS

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Oct 1 (Reuters) - GMR Airports Ltd GMRI.NS:

• AUTHORITIES REQUIRED TO EXECUTE CONCESSION AGREEMENT AT EARLIEST FOR NAGPUR AIRPORT WITH CO

Source text for Eikon: ID:nNSE6Dz57S

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Sept 13 (Reuters) - GMR Airports Ltd GMRI.NS:

• TOTAL PASSENGER TRAFFIC FOR AUGUST UP 9% Y/Y

• AUGUST DOMESTIC TRAFFIC UP 7.4% Y/Y

• AUGUST INTERNATIONAL TRAFFIC UP 12.9% Y/Y

Source text for Eikon: ID:nBSE4H7rHm

Further company coverage: GMRI.NS

(Reporting by VijayDattaram Malkar)

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BENGALURU, Sept 9 (Reuters) - India's GMR Airports Infrastructure GMRI.NS said on Monday it will acquire an additional 10% stake in the Delhi International Airport in a deal worth $126 million, to take its overall shareholding to 74%.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)

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Aug 14 (Reuters) -

• GMR-RUN DELHI AIRPORT’S NEW TERMINAL 1 TO BECOME OPERATIONAL FROM AUGUST 17 - STATEMENT

• INDIGO, SPICEJET TO MOVE SIGNIFICANT PART OF THEIR OPERATIONS TO NEW TERMINAL1 OF DELHI AIRPORT- STATEMENT

• SPICEJET WILL OPERATE 13 FLIGHTS FROM TERMINAL 1 OF DELHI AIRPORT FROM AUGUST 17 - STATEMENT

• INDIGO WILL START ITS OPERATIONS WITH 34 FLIGHTS FROM TERMINAL 1 OF DELHI AIRPORT FROM FROM SEPT2-STATEMENT

Source text for Eikon: [ID:]

Further company coverage: GMRI.NS

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MUMBAI, July 25 (Reuters) - India's Delhi International Airport has accepted bids worth 25.13 billion rupees ($300.22 million) through bonds maturing in 10 years, two merchant bankers said on Thursday.

The company has set a coupon of 9.50%, payable quarterly. It had invited bids from bankers and investors on Wednesday.

In March, the company had raised 8 billion rupees via 10-year bonds at a coupon of 9.50%.

Here is the list of deals reported so far on July 25:

* Size includes base plus greenshoe for some issues

($1 = 83.7050 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Nivedita Bhattacharjee)

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MUMBAI, July 23 (Reuters) - India's Delhi International Airport plans to raise 25.13 billion rupees ($300.3 million) selling bonds maturing in 10 years, two merchant bankers said on Tuesday.

The company has invited bids from bankers and investors on Wednesday, they said. The coupon will be payable quarterly and will be reset at the end of the fifth year.

In March, the company had raised 8 billion rupees via 10-year bonds at a coupon of 9.50%.

Here is the list of deals reported so far on July 23:

*Size includes base plus greenshoe for some issues

($1 = 83.6875 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Sonia Cheema)

(([email protected]))