Nearly a month after, ADANI group bagged 6 airports from the AAI, TATA Group forayed into the fast growing Aviation infrastructure segment, by buying into GMR Airports Ltd- the Airports arm of GMR Infrastructure ltd. TATA group led consortium also includes Singapore govvernment owned sovereign wealth fund GIC and SSG capital investments, who own 20%,15% and 10% respectively. Post the investment consummation, GMR parent will still be left with a significant 54% percentage in the division that may allow it to run the airports division smoothly.
- GMR Airports group operates two airports in India at Delhi & Hyderabad and one airport at Cebu-Phillippines.
- The group also bagged the rights to build greenfield airports ta Mopusa-GOA and Crete islands in Greece. Last November it also bagged the mandate to develop MIHAN airport at Nagpur.
- The airport division is tentatively valued @ INR 18000 Crores out of which TATA led group will be picking up 45% stake by investing INR 8000 Crores.
- With this investment, GMR group separates the Airport business from its core business of Highways, Energy and transportation.
- GMR group achieves this feat without much fuss to the surprise of industry watchers
Recently GVK group that runs Mumbai international airport consolidated its holding in the entity by buying out the foreign partners stake.