GMR Airports okays Rs 5,000 crore fundraising, SPV for Delhi Cargo City

The Board also cleared the formation of a wholly owned subsidiary as a Special Purpose Vehicle (SPV) to execute the Cargo City Project awarded by Delhi International Airport Limited (DIAL).

GMR Airports on Thursday said its Board of Directors has approved an enabling resolution to raise up to Rs 5,000 crore in one or more tranches.

According to the company’s filing to the Bombay Stock Exchange, the funds may be mobilised through the issue of securities, including fully paid-up equity shares, non-convertible debentures with warrants, convertible securities other than warrants, and/or any other instruments, either via Qualified Institutions Placement, Foreign Currency Convertible Bonds, or other methods.

The proposal has been recommended to shareholders for approval, subject to necessary regulatory and statutory clearances.

The Board also cleared the formation of a wholly owned subsidiary as a Special Purpose Vehicle (SPV) to execute the Cargo City Project awarded by Delhi International Airport Limited (DIAL).

This follows the company’s earlier intimation on August 13, 2025, regarding its selection as the bidder to finance, design, develop, construct, operate, manage and maintain the Cargo City at Indira Gandhi International Airport, New Delhi.