GMR Group

The GMR Group (co-owners of Delhi Capitals) and Microsoft chairman & CEO Satya Nadella and GMR Group led consortium have bagged the rights to own and operate a team in Major League Cricket (MLC), a new T20 franchise league in the USA, which is scheduled to be launched this July.

The GMR Group which is in the process of developing an international airport at Bhogapuram near here will be investing Rs 5,000 crore on the aerodrome in the first phase. Speaking at the inaugural session of the Global Investors Summit 2023 being held here, GM Rao, chairman of GMR Group said the first phase of the airport will be developed to serve six million passengers per annum. "We will be developing Bhogapuram Airport with the first phase serving six million passengers and an ultimate capacity of 40 million passenger (per annum). The first phase investment will be to the tune of Rs 5,000 crore," Rao said. The airport will have state-of-the-art cargo facilities that will cater to exports and aerotropolis and airport city around the airport that will consist of an industrial zone, airspace zone and education and healthcare zones, he said. Rao further said the airport would replicate the success of Hyderabad aerodrome which will help in the transformation of Visakhapatnam city

Under the contract, AAI can penalise DIAL for not maintaining service quality standards

The investment will be made via compulsory convertible debentures in GMR Goa International Airport, the special purpose vehicle (SPV), which will operate the new airport in Goa

GMR Power And Urban Infra Ltd on Friday reported a more than four-fold rise in consolidated net profit at Rs 1,082.70 crore for the quarter ended September. The company had posted a consolidated net profit of Rs 248.95 crore in the year-ago period, GMR Power And Urban Infra said in a filing to BSE. The consolidated income of the company during the second quarter of the current fiscal increased to Rs 1,626.90 crore compared to Rs 1,086.44 crore in the year-ago period. However, on a standalone basis, the company reported a loss of Rs 46.40 crore in the latest September quarter. It had posted a standalone profit of Rs 509.30 crore in the year-ago period. The company is into the business of engineering, procurement and construction.

Nepal's Supreme Court on Thursday issued an interim order and asked the government not to implement its decision to extend the term of India's power giant GMR that is developing the Upper Karnali Hydropower Project. The Cabinet had decided to extend GMR's term by two years. A single bench of Justice Ishwor Prasad Khatiwada issued the interim order against the Cabinet's July 15 decision, according to the apex court sources. The supreme court questioned why the Cabinet made the decision on the extension of the project when it was earlier decided by the Investment Board of Nepal. The Investment Board of Nepal and GMR signed the project development agreement seven years ago with two years term. Later, the Cabinet decided to extend the term by another ten years up to 2023 as the project could not move forward as agreed upon in the contract. Likewise, the board again had given one more year for financial closure for the Indian company. Advocate Ratan Bhandari, working in Nepal's water

However, Bengaluru airport's operator BIAL gave a different set of data to Business Standard

GMR group-run Delhi Airport on Thursday said it has made its facility compliant for 5G network, which the passengers can avail once these services are rolled out by the Telecom Service Providers (TSPs). Most airports at present provide wireless service primarily through Wi-Fi to passengers. Wi-Fi relies on the unlicensed spectrum which is free for anyone to use, as per the Delhi International Airport Ltd (DIAL). With the rise in passenger footfall, the airports have witnessed a rise in demand for more bandwidth and faster speed for using gadgets like smartphones and laptops, among others. Airlines and other airport stakeholders are also seeking fast, seamless and secure connectivity for their essential technologies to meet the demand, DIAL said, adding with 5G network passengers will be able to enjoy a 20 times faster data speed over the available Wi-Fi system, it said. Such a network would allow them quicker downloads, zero buffering during streaming and seamless execution of ...

Loans would be repaid progressively over 15 years, giving the company additional time of about seven years to extinguish the liability

GMR Group on Friday said it will divest its entire 40 per cent stake in Cebu international airport in Philippines for an upfront payment of Rs 1,330 crore as well as earnouts to be received over a period of more than four years. The airport is being operated by GMR-Megawide Cebu Airport Corporation (GMCAC) and GMR Airports International BV (GAIBV) holds a 40 per cent stake in the venture. A definitive agreement has been signed between GMR Airports International BV (GAIBV) and Aboitiz InfraCapital Inc (AIC) for the divestment of stake in Cebu airport. AIC is the infrastructure arm of the Philippines-based Aboitiz Group. According to a regulatory filing, the stake is being divested as part of the focus on deleveraging GMR Airports Ltd and churning assets for higher returns on investment. "The transaction will be undertaken at an enterprise value of PhP 49.7 billion (INR 70.5 billion) and GAIBV will receive an upfront amount of PhP 9.4 billion (INR 13.3 billion) in lieu of the shares

Group power company to raise Rs 3,000 cr separately

Infrastructure conglomerate GMR Group will divest 30 per cent stake in Indonesia-based bituminous coal mining firm PT Golden Energy Mines (PT GEMS) for USD 420 million (around Rs 3,360 crore), according to a regulatory filing. The divestment will give thrust to GMR's non-airport business through reduction of leverage and give a platform for the growth of its clean energy initiatives. GMR Coal Resources Pte Ltd (GCRPL), a step-down subsidiary of GMR Power and Urban Infra Ltd (GPUIL), has signed definitive pacts to offload the 30 per cent stake it holds in PT GEMS to PT Radhika Jananta Raya, an arm of PT ABM Investama Tbk (ABM), following a competitive bidding process, the filing said. GPUIL -- a subsidiary of GMR Enterprises (GEPL) -- holds expertise in the energy, urban infrastructure and transportation sectors. GCRPL will receive a gross consideration of USD 420 million on closure, GPUIL said in a filing to BSE, adding it will also get a deferred consideration based on mutually .

The GMR Group will provide the fully integrated aircraft maintenance engineer (AME) licensing programme at the GMR School of Aviation in Hyderabad, said the joint statement.

DVI Fund Mauritius Ltd, a public shareholder of GMR Infrastructure, on Thursday divested 3.3 per cent stake in the airports handling company for Rs 720 crore through an open market transaction. The shares were picked up by C/D Investors Fund LP, A/D Investors Fund LP, DVG 1740 Fund LP, Veda Investors Fund LP, H/D Investors Fund LP, Deccan Value Investors BPI Fund LP and Deccan Value Investors Fund LP, block deal data with the BSE showed. According to the data, DVI Fund Mauritius sold a total of 19,84,17,768 shares, amounting to 3.28 per cent stake in the company. The shares were offloaded at an average price of Rs 36.3 apiece, taking the transaction size to Rs 720 crore. As on March 2022, DVI Fund Mauritius Ltd held 7.76 per cent stake in the company, shareholding data with the exchange showed. Shares of GMR Infrastructure closed 0.55 per cent higher at Rs 36.50 on BSE. In a separate block deal, Deccan Value Advisors Fund IV sold 5.1 crore shares worth Rs 112 crore of GMR Power a

MIHAN had moved SC following Bombay High Court's refusal to annul the bidding process of Nagpur airport which was won by GMR in 2018

Till date, the GMR Group had the rights to operate the Hyderabad airport till March 22, 2038

Globally, International Air Transport Association has set a target for airlines to achieve net zero emissions by 2050

Equity shares of GMR Power and Urban Infra Ltd, the non-airport business company of the GMR Group, will start trading on BSE and NSE from Wednesday onwards. "The scrip will trade under the script ID GMRP&UI," the company said in a statement. GMR Power and Urban Infra Limited (GPUIL) is the new entity into which the non-airport businesses of GMR Group have been demerged. Post the demerger, GIL (GMR Infrastructure Limited) has emerged as the India's first pure-play airports' company and has been trading ex-demerger since January 12, 2022. "GPUIL now has some of the best-in-class infrastructure assets in India, which include state-of-the-art power plants and renewable energy assets, highways, and special investment regions," it said. The firm has a balanced mix in its energy generation portfolio - 4.8 GW of power generation capacity, of which 2.8 GW is commissioned. The company operates two solar power plants at Patan in Gujarat and at Rajam in Srikakulam district of Andhra Pradesh.

The work has been done as part of expansion plans and once complete, the airport's total terminal capacity and airside capacity will increase to 100 million and 140 million, respectively

Under the new norms, passengers coming from 12 "at risk" countries/regions undergo an RT-PCR test and wait for result at the airport before leaving or taking a connecting flight