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Amarchand, Wadia Ghandy help StanChart/JM inject $131m into GMR

Amarchand Mangaldas and Wadia Ghandy have advised on the latest $131m private equity (PE) funding of GMR Airports by PE firms Standard Chartered and JM Financial-Old Lane adding on to $200m raised from other PE funds in March this year.

Amarchand Mangaldas projects partner Jatin Aneja led the transaction along with principal associate Vidyut Gultai, senior associate Siddhartha Sen and associates Neha Yadav and Varun Nair for GMR Infrastructure-owned GMR Airports Holding.

Wadia Ghandy partners Ankit Majmudar and Xerxes Antia with associate Anubhav Agarwal acted for the investors Standard Chartered and JM Financial-Old Lane.

GMR Infrastructure owns stakes in airports including Delhi International Airport and the Hyderabad International Airport through GAH and this is the group’s second round of funding this year. In the previous round also Amarchand Mangaldas led for GAH with investors being PE fund jointly owned by the State Bank of India (SBI) and Macquarie.

“The Bangalore-based infrastructure major said that the investors would subscribe to compulsorily convertible preference shares in the company,” reported VCCircle.

“GMR Airports, a subsidiary of GMR Infrastructure, holds stakes in two Indian and two overseas airports which are run by the group. It holds 54 per cent stake in Delhi International Airport Ltd, 63 per cent in GMR Hyderabad International Airport Ltd, 40 per cent in Istanbul Sabiha Gokcen International Airport and 77 per cent stake in Male International Airport.”

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