GMR Goa International Airport raises Rs.631-Cr from NIIF

The National Investment and Infrastructure Fund (NIIF) will invest INR 631-crore in the form of compulsory convertible debentures (CCDs) to pick up a stake in GMR Goa International Airport Ltd (GGIAL), which runs the New Goa Airport, GGIAL is promoted by GMR Airports Ltd (GAL), a partnership between GMR group and French government-backed Groupe ADP. It has developed airports in over nine countries and currently operates five airports. GGIAL, which is a special purpose vehicle, was awarded the project to develop and operate a second airport in Goa in 2016 on a design-build-finance-operate-and-transfer (DBFOT) basis.