GMR AIRPORTS LIMITED has informed the Exchange regarding Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Allotment of Non-Convertible Bonds
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GMR Airports Limited has allotted 5,90,000 unsecured, listed, rated, redeemable non-convertible bonds (NCBs) of face value ₹1 lakh each on a private placement basis, raising approximately ₹590 crore. The bonds were issued in two tranches: 150,000 bonds with an 18-month tenure and 440,000 bonds with a 36-month tenure, both carrying a 5% annual coupon payable annually. Including redemption premiums of 5.225% and 5.425% respectively, the effective yields work out to 10.225% and 10.425% per annum. The proceeds will be used to refinance the company's existing NCBs. The bonds will be listed on BSE.
This is a routine debt refinancing exercise — existing bonds are being replaced with new ones at similar effective cost (~10.2-10.4%). No fresh equity dilution; shareholders are not directly impacted. It suggests active liability management by the company but doesn't change the fundamental debt position materially.