Singapore sovereign wealth fund GIC and SSG Capital also acquire stake
Just a month after Adani Group forayed into India’s emerging airports space by winning bids for six airports, Tata Group has entered the segment by picking up 19.7 per cent stake in GMR Airports Ltd.
Tata Group, along with Singapore sovereign wealth fund GIC and Asia-focussed alternative asset management fund SSG Capital Management, will invest a total of ₹8,000 crore in GMR Airports.
Tatas would invest ₹3,650 crore. GIC and SSG will put in ₹2,670 crore and ₹1,780 crore respectively, making it possibly the largest foreign PE investment in India’s airports space. GIC and SSG will hold 14.8 per cent and 9.9 per cent, respectively. The deal will help GMR reduce its ₹20,000-crore debt to ₹12,000-₹13,000 crore.
