Business Update28 Mar 2024, 03:03 am
NIIF Invests INR 394.88 Crores in GMR Airports Infrastructure Ltd's Greenfield Airport Project
AI Summary
GMR Airports Infrastructure Ltd through its subsidiary, GVIAL, has received INR 394.88 crores from National Investment and Infrastructure Fund (NIIF) towards the subscription of compulsory convertible debentures (CCDs). The investment is part of a larger agreement between the parties based on achieving various construction linked milestones.
Key Highlights
- NIIF invests INR 394.88 crores in GMR Airports Infrastructure Ltd
- Funds for GVIAL through issuance of CCDs
- Investment tranche based on construction milestones