GMR Airports: GMR Infrastructure finally gets fresh investment
It was five years ago that India’s debt-laden GMR Infrastructure began to look around for new investment into its airports division and an IPO has often been considered the way forward.
Suddenly, though, a significant equity transfer has been arranged.
This involves a huge Indian company that is in the domestic airline sector but has never managed to break into the airports one, along with a foreign Sovereign Wealth Fund which previously restricted itself to the global hubs that one tends to associate with such financial edifices, and another foreign entity, a private equity firm that is a newcomer to the sector.
(There is never a dull moment in the Indian airport sector.)
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