GMR Group Secures Major Investment from ADIA

GMR Group, led by G M Rao, has secured a Rs 6,300 crore investment from ADIA, aimed at reducing debt for GMR Enterprises Pvt Ltd. The investment involves optionally convertible debentures and strengthens capital ties between GMR and ADIA, while addressing share pledge concerns.

The GMR Group has secured a substantial Rs 6,300 crore investment from the Abu Dhabi Investment Authority (ADIA), a move designed to alleviate debt burdens on GMR Enterprises Pvt Ltd (GEPL).

This financial package involves optionally convertible debentures, an arrangement confirmed through a regulatory filing and announced in October of the previous year.

This strategic partnership is set to significantly reduce the share pledges and refinancing risks for GEPL, further solidifying the capital alliance between GMR Promoters and ADIA.

(With inputs from agencies.)