Delhi International Airport Limited raises Rs. 32.57 billion through NCDs

Delhi International Airport Limited (DIAL), a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GIL), announced that it had on March 30th, 2021 successfully completed the issuance of Non-Convertible Debentures (NCD's) for Rs. 32.57 billion. The NCD's have been priced at interest rate of 10.96% p.a. and have been subscribed by Cliffton Limited (a FPI, registered under SEBI).

The proceeds from the NCD's will be utilized to refinance the outstanding debt of around USD 289 Mn due in FY22 and to partly finance the Phase 3A Expansion.

Commenting on the occasion, Mr. Grandhi Kiran Kumar, Corporate Chairman, GMR Group said, "We are delighted on the successful completion of this transaction. The offering through DIAL was subscribed by FPI. This shows the confidence of investor in our ability to raise funds from the International Market and reflects our continued effort to create value for our investors. The successful pricing of the offering underscores investors' confidence in GMR Group and credit strength of DIAL".

Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.24.35 as compared to the previous close of Rs. 24.4. The total number of shares traded during the day was 894879 in over 692 trades.

The stock hit an intraday high of Rs. 24.9 and intraday low of 24.15. The net turnover during the day was Rs. 21863377.

Source : Equity Bulls

Keywords