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 Rs. 8,000 crore in GMR Airports.
Tatas would invest Rs. 3,650 crore. GIC and SSG will put in Rs. 2,670 crore and Rs. 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 Rs. 20,000-crore debt to Rs. 12,000- Rs. 13,000 crore.
