GMR Airports Limited (formerly GMR Airports Infrastructure Limited) has announced a special opportunity for shareholders to re-lodge physical share transfer deeds that were previously rejected or returned. This move comes in response to a recent SEBI circular and aims to address outstanding issues related to physical share transfers.

Key Details of the Special Window

• Duration: The special window will be open from July 07, 2025 to January 06, 2026.
• Eligibility: This opportunity is specifically for transfer deeds that were lodged before April 01, 2019, and were subsequently rejected, returned, or not processed due to document deficiencies or other issues.
• Mode of Issuance: Re-lodged securities will be issued only in demat mode.

Process for Shareholders

Shareholders interested in taking advantage of this one-time opportunity are advised to contact the company's Registrar and Share Transfer Agent, KFin Technologies Limited. The company has provided the following contact details for KFin Technologies:

Company's Statement

T. Venkat Ramana, Company Secretary & Compliance Officer of GMR Airports Limited, stated in the official communication, "Relevant shareholders are encouraged to take advantage of this one-time window." This statement underscores the importance of this opportunity for affected shareholders.

Background

This initiative by GMR Airports Limited is in line with the SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD/P/CIRl2025/97 dated July 02, 2025. The move is part of broader efforts to transition from physical shares to electronic or demat form, which offers greater security and ease of trading for investors.

Shareholders of GMR Airports Limited should note that this special window provides a limited-time opportunity to resolve issues with physical share transfers that occurred before the April 01, 2019 deadline. As the company emphasizes, all re-lodged securities will be issued only in demat form, aligning with the current regulatory preference for dematerialized shares.

GMR Airports, a major player in India's aviation infrastructure sector, has successfully raised Rs 6,000 crore through non-convertible debentures (NCDs) to refinance its existing liabilities. This strategic move is expected to significantly reduce the company's average borrowing costs by nearly 300 basis points.

Fundraising Structure

The fundraising initiative is structured in two tranches:

1. Bank Tranche: Rs 4,200 crore raised from banks including Barclays, Deutsche Bank, and JP Morgan at an interest rate of approximately 10.50% for a 3-year term.

2. Mutual Fund Tranche: Rs 1,800 crore raised from mutual funds including ICICI Prudential AMC, HDFC AMC, UTI AMC, and SBI Mutual Fund at around 10.35% for an 18-month term.

Financial Impact

This refinancing effort is set to have a substantial impact on GMR Airports' financial structure:

• Debt Reduction: The company currently holds Rs 6,100 crore in non-convertible bonds.
• Repayment Schedule: Rs 5,000 crore is due for repayment in November 2026, with the remaining Rs 1,100 crore due in February 2028.
• Cost Savings: The new NCDs are expected to lower the average borrowing cost by approximately 300 basis points, potentially leading to significant interest savings.

Credit Rating

Crisil, a leading credit rating agency, has assigned an A+ rating to the newly issued NCDs, reflecting confidence in GMR Airports' financial stability and repayment capability.

Company Overview

GMR Airports owns and operates major Indian airports, including those in Delhi and Hyderabad. These airports serve as critical infrastructure hubs for the country's aviation sector.

This refinancing initiative underscores GMR Airports' proactive approach to managing its financial obligations and maintaining investor confidence in its operations and growth strategies.