Tata Group, GIC, SSG to invest ₹8,000cr in GMR Airports | Editorji
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Tata Group, GIC, SSG to invest ₹8,000cr in GMR Airports

Mar 27, 2019 15:38 IST

Tata Group, Singapore's GIC and SSG Capital Management will invest ₹8,000 crore in GMR Airports Ltd. The deal will pump in ₹1,000 crore into GMR's airport unit and will buy equity shares from the parent firm with ₹7,000 crore. GMR also said that Tata will hold 20% stake while GIC and SSG will own 15% and 10% stake in the firm respectively. The deal will value GMR at ₹18,000 crore and has a standing debt of ₹29,000 crore. Following the news, GMR shares jumped to a record high in intraday trade since September 3

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