GMR Airports Allots ₹1,500 Cr Non-Convertible Bonds

GMR Airports Ltd has successfully allotted 1,50,000 Non-Convertible Bonds (NCBs) worth ₹1,500 Crores. These listed, unsecured, rated, and redeemable bonds have a face value of ₹1 Lakh each and an interest rate of 9.56%. The allotment was made on a private placement basis following the receipt of the entire subscription amount with a premium. The primary purpose of this issuance is to refinance existing NCBs of the company. The bonds have a tenure of up to 36 months from the allotment date.