GMR Airports Infrastructure Ltd, the group holding company that was formerly known as GMR Infrastructure Ltd, on Monday announced the merger of GMR Airports Ltd, the operator of Delhi and Hyderabad airports, with itself, resulting in French airport operator Groupe ADP becoming the second largest shareholder in the merged entity.
The merger is expected to be finalized in the upcoming fiscal year, and after the merger, GMR Group will continue to be the largest stakeholder in GMR Airports Infrastructure (GIL), holding a 33.7% ownership interest. Groupe ADP will be holding 32.3%, and the public holding will be at 34% of the paid-up share capital.
“This is achieved through categorizing Groupe ADP’s shareholding in merged GIL into two instruments - ordinary equity shares and optionally convertible redeemable preference shares (OCRPS)," the company said.
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