GMR Airports to Merge with Parent GMR Infrastructure

GMR Airports Infrastructure recently announced the merger of GMR Airports, GMR 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 finalised 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 per cent ownership interest. Groupe ADP will be holding 32.3 per cent, and the public holding will be at 34 per cent 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.