“The existing shareholders of GMR Infra will receive one equity share of Rs 5 (face value) eac3h of GMR Power and Urban Infra Limited for holding 10 equity shares of Re 1(face value) share of each GMR Infra Ltd. The demerger happened through a vertical split and resulted in listed companies – GIL and GPUIL and mirror shareholding of the both. All the existing shareholders of GIL will become shareholders of GPUIL in the same proportion. GPUIL shares will start trading independently on the stock exchange in February 2022 after approvals from SEBI/stock exchanges,” GMR Group said in a statement.
“GIL becomes the only pure-play airports platform with strong cash flow generation potential (in India). According to CAPA, GMR Infrastructure is world’s second largest private airport operator after France’s VINCI Airports. It is the only Indian airport developer having strongest international presence,” it added.
GIL’s airport portfolio has around 18.2 crore per annum passenger capacity (pre-Covid) in operation and under development. The operating airports include: IGIA in Delhi, RGIA in Hyderabad, Mactan Cebu International Airport in Philippines (in partnership with Megawide) and Medan Airport, Indonesia (with Indonesia’s Angkasa Pura II).
The greenfield projects under development include Mopa in Goa and Heraklion International Airport in Crete, Greece, (in partnership with GEK Terna). It will build Bhogapuram greenfield airport in Andhra Pradesh. It has also signed the concession agreement to commission, operationalise and maintain the civilian enclave at the Bidar Airport in north Karnataka.
