GMR Infrastructure has been renamed as GMR Airports Infrastructure with effect from September 15, so as to reflect that it is now the holding company for the GMR Group’s airport assets.
The company has in July, sought shareholders’ approval to change its name from GMR Infrastructure to GMR Airports Infrastructure.
Pursuant to the Orders of the National Company Law Tribunal (NCLT), Mumbai Bench, the Composite Scheme of Amalgamation and Arrangement, the company had demerged its non-airport business, that is the EPC business and the urban infrastructure business to GMR Power and Urban Infra Limited.
Restructure plans
The GMR Group, has announced plans to restructure its various business verticals, spin-off and list its airports business separately in August 2020.
“The Company, accordingly retained the Airport business and is now the holding company for predominantly the Airport Business of the GMR Group,”it said in a media statement.
GMR’s Airport portfolio has around 189 million passenger handling capacity annually and comprise India’s busiest Indira Gandhi International Airport in New Delhi and Hyderabad’s Rajiv Gandhi International Airport.
The company also operates the Mactan Cebu International Airport in Cebu, Philippines, in partnership with Megawide. GMR Airports, in collaboration with Angkasa Pura II (AP II), has recently bagged the development and operation rights of Kualanamu International Airport in Medan, Indonesia.
Three major greenfield airport projects across India – Goa and Bhogapuram – and one in Greece (Crete airport) are under development.