GVK Group to raise ₹7,614 crore to retire debt

NEW DELHI : The airport arms of GVK Power and Infrastructure Lmited (GVK Group) has signed agreements to raise an investment of ₹7,614 from Abu Dhabi Investment Authority (ADIA), Canada’s Public Sector Pension Investment Board, (PSP Investments), and the government-backed National Investment & Infrastructure Fund (NIIF), the company said in a statement on Sunday.

The proceeds from the investment will be used to retire debt debt obligations of its holding companies and fund the purchase of additional shares in MIAL (Mumbai International Airport Limited) from partners Bidvest and ACSA, the company said in a statement.

“GVK Airport Developers Limited (GVKADL) and GVK Airport Holdings Limited (GVKAHL) have entered into definitive agreements with subsidiaries of the Abu Dhabi Investment Authority (ADIA), Public Sector Pension Investment Board (PSP Investments) supported by its global airports platform, AviAlliance,