GMR Infrastructure Increases Quantum Of Its Stake Sale in GMR Airports
A sign pointing toward visitor lounges hangs above a waiting area inside the Terminal 2 building at the Indira Gandhi International Airport (IGI) in Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)

GMR Infrastructure Increases Quantum Of Its Stake Sale in GMR Airports

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GMR Infrastructure Ltd. will sell 49 percent stake in GMR Airports Ltd. to Tata Group firm TRIL Urban Transport as against 44.44 percent planned earlier.

The company will offload the stake “in one or more tranches" to a consortium of TRIL Urban Transport, an affiliate of Singapore sovereign fund GIC Pte Ltd. and SSG Capital Management. An amended and restated shares subscription and purchase agreement, and shareholders agreement has been executed for the revised deal, the filing said.

“This is another step in our endeavour to deleverage,” the company said.

The deal would be subject to regulatory approvals.

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