GMR’s DIAL offers ₹32.57 billion Non Convertible Debentures

Our Bureau Hyderabad | Updated on April 01, 2021

Delhi International Airport Limited (DIAL), a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GIL), has announced that it had on March 30, 2021 successfully completed the issuance of Non-Convertible Debentures (NCD’s) for ₹32.57 billion.

The NCD’s have been priced at interest rate of 10.96 per cent p.a. and have been subscribed by Cliffton Limited (a FPI, registered under SEBI).

The proceeds from the NCD’s will be utilised to refinance the outstanding debt of around $289 million due in FY22 and to partly finance the Phase 3A Expansion.

Grandhi Kiran Kumar, Corporate Chairman, GMR Group, in a regulatory filing with BSE 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.”

Published on April 01, 2021

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