GMR Hyderabad International Airport (GHIAL) is a stepdown subsidiary of GMR Airports Infrastructure.
ILP Core Ventures I PTE Limited is a step down subsidiary of Indospace Core PTE, India's largest operator of core logistics and industrial real estate vehicle.
ILP Core Ventures I Pte. Ltd. owns 100% shareholding of 11 Indian SPVs, which hold fully developed and leased industrial and warehousing asset portfolio of 8.1 million square feet in India.
GHIAL signed the definitive agreements and closed the transaction with ILP Core Ventures I PTE Limited at an enterprise value of Rs 188.1 crore.
The said divestment of warehouse facility was concluded by means of divestment of 100% equity stake of GMR Hyderabad Airport Assets (GHAAL), a subsidiary of GHIAL and a special purpose vehicle that owned this warehouse facility. As such, post conclusion of the transactions, GHAAL would cease to be a subsidiary of GIL.
The resulting cash flows will help in deploying capital in expansion facilities and other growth opportunities at the Hyderabad Airport Land Development portfolio.
GMR Airports Infrastructure is mainly engaged in development, maintenance and operation of airports, generation of power, coal mining and exploration activities, development of highways, development, maintenance and operation of special economic zones.
The company's net loss from continuing operations widened to Rs 636.74 crore in Q4 FY23 as against net loss of Rs 128.95 crore in Q4 FY22. Revenue from operations jumped 47.6% year on year (YoY) to Rs 1,894.62 crore in the quarter ended 31 March 2022.
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