New Delhi: GMR Infrastructure Ltd (Gil), which operates Delhi and Hyderabad airports and is building several others, on Tuesday to become a registered company of the first pure airport in India.
Infra Major has combined other non-air airports such as the power of infra GMR as a power of GMR and Urban Infrastructure Limited (GPUIL).
“The existing shareholders of GMR Infra will receive an equity stock of Rs 5 (nominal value) of each power GMR and Urban Infra Limited to hold 10 Equity Stock Re 1 (nominal value) Part of each GMR Infra Ltd, the demerger occurs through vertical divisions and produce registered companies – Gil and GPUIL and mirror shareholders both.
All existing GIL shareholders will become GPUIL shareholders in the same proportion.
GPUIL shares will start trading independently on the stock market in February 2022 after approval from Stock Exchange Securities / Stock, “GMR Group said in a statement.
“Gil is the only Play-Play airport platform with the potential for making a strong cash flow (in India).
According to Capa, the GMR infrastructure is the second largest private airport operator in the world after the Vinci French airport.
This is the only Indian airport developer Having the strongest international presence, “he added.
The portfolio of Gil airport has around 18.2 crore per year passenger capacity (pre-covid) in operation and in development.
Airports operating include: IGIA in Delhi, RGIA in Hyderabad, Mactan Cebu International Airport in the Philippines (in partnership with Megawide) and Medan Airport, Indonesia (with Angkasa Pura II).
Greenfield projects are being developed including MOPA at Goa International Airport and Heraklion in Crete, Greece, (in partnership with Gek Terna).
It will build Greenfield Bhogapuram airport in Andhra Pradesh.
It also signed a concession agreement to submit, operationalize, and maintain a civil bag at Bidar Airport in North Karnataka.