According to a September 16 stock exchange notification, GMR Infrastructure has been renamed GMR Airport Infrastructure, effective September 15, to reflect that the company is now primarily the holding company for GMR Group’s airport assets.

GMR Group announced in August 2020 that it plans to restructure its various verticals, spinning off and listing its airport business separately.

The planned merger includes the spin-off of GMR Power Infra from GMR Infrastructure, which is scheduled to be completed in December 2021.

GMR Group’s airport portfolio has approximately 172 million passenger capacity in operation and development, including India’s busiest Indira Gandhi International Airport in New Delhi and Rajiv Gandhi International Airport in Hyderabad.

GMR Group also operates Mactan-Cebu International Airport in partnership with Megawide in the Philippines. At the same time, greenfield projects under development include Goa’s Mopa Airport in partnership with GEK Terna and another airport in Heraklion, Crete, Greece.

The company sought shareholder approval in July to rename GMR Airports Infrastructure. Earlier this month, the GMR Infrastructure board also approved raising Rs 6,000 crore through foreign currency convertible bonds and/or other securities.

The funds will be used for various infrastructure projects currently undertaken by the group. Group company GMR Airports is developing airport cities on commercial land around airports in Delhi, Hyderabad and Goa.

GMR Hyderabad Aerotropolis is developing into a new-age smart business hub. The group has recently sold several coal-fired power generation projects with more than 3,000 MW of installed capacity and is building renewable energy projects.

The Transportation and Urban Infrastructure segment has four operating highway assets spanning more than 1,824 lane kilometres. The group’s EPC business is working on designing and constructing dedicated freight corridor companies for India’s prestigious Eastern Freight Dedicated Corridor project. The group is also developing special investment zones in India.