Delhi International Airport Limited (DIAL), a subsidiary of GMR Airports Limited and a step-down subsidiary of GMR Infrastructure Limited (GIL), announced that it had successfully completed the issuance of 5 years Non-Convertible Debentures (NCDs) amounting Rs.10 billion and the same listed on the BSE Limited on June 23, 2022.
The NCDs have been priced at an interest rate of 9.52% per annum payable monthly for an initial period of 36 months and thereafter 9.98% per annum payable monthly and have been subscribed by eligible investors (QIBs, registered under SEBI).
The proceeds from the Notes will be utilized to partly finance the Phase 3A Expansion program.
Commenting on the occasion, Mr. Grandhi Kiran Kumar, Corporate Chairman, GMR Group said, “We are delighted on the successful completion of this transaction. This is DIAL’s first listed transaction in domestic debt market and response from the investors was overwhelming. The offering through DIAL was subscribed by eligible Investors i.e. QIB. This shows the confidence of investor in our ability to raise funds from the Domestic 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”.