Amarchand and Wadia Ghandy help GMR raise 131 million from PE firms

Amarchand and Wadia Ghandy help GMR raise 131 million from PE firms

Bar & Bench

GMR Airports Holding (GAH) has raised Rs. 584.60 crore ($ 131 million) from the private equity arm of Standard Chartered Plc. and funds managed by JM Financial-Old Lane.  This is the second round of investment in GAH this year. GAH had earlier raised approximately $200 million from Macquarie SBI Infrastructure Fund, taking the total investment to $330 million.

Amarchand & Mangaldas advised GAH with a team led by Partner Jatin Aneja along with Principal Associate Vidyut Gulati, Senior Associate Siddhartha Sen and Associates Neha Yadav and Varun Nair.

Wadia Ghandy advised PE firms with a team led by Partners Ankit Majmudar and Xerxes Antia along with Associate Anubhav Agarwal.

The investors in the current round include Standard Chartered Private Equity (Mauritius) III Ltd, JM Financial-Old Lane India Corporate Opportunities Fund I Ltd, JM Financial Trustee Company Pvt Ltd (on behalf of JM Financial India Fund III), JM Financial Products Ltd and Build India Capital Advisors LLP (now acquired by the Citigroup).

According to 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.

Last year, the GMR-Malaysia Airports together had won the contract for construction and expansion of the Malé International Airport (MIA) in Maldives.

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