GMR Hyderabad International Airport Limited (GHIAL), a step-down subsidiary of GMR Airports Infrastructure Limited, has confirmed the divestment of an approximately 8,18,000 sq ft warehouse facility located at the Hyderabad airport to ILP Core Ventures I PTE Limited, a subsidiary of Indospace Core PTE Limited.
The definitive agreements for the transaction were signed and closed, valuing the enterprise at INR 188.1 crore. This divestment is a testament to the GMR Group’s expertise in developing world-class institutional-grade real estate project assets and successfully generating value through a successful exit. The cash flow from the transaction will be utilised for expanding facilities and exploring growth opportunities within the Hyderabad Airport Land Development portfolio.
The significant interest shown by multiple global investors also highlights the emergence of Aerocities as a contemporary real estate ecosystem.
The divestment of the warehouse facility was executed through the divestment of a 100% equity stake of GMR Hyderabad Airport Assets Limited (GHAAL), a subsidiary of GHIAL and the special purpose vehicle owning the warehouse facility. Following the completion of the transaction, GHAAL will no longer remain a subsidiary of GMR Airports Infrastructure Limited.