GMR Group, a leading infrastructure conglomerate, has announced the successful divestment of an 8,18,000 sqft warehouse facility located at Hyderabad’s Rajiv Gandhi International Airport. The transaction was concluded by divesting a 100% equity stake of GMR Hyderabad Airport Assets Limited (GHAAL), a subsidiary of GMR Hyderabad International Airport Limited (GHIAL) and a special purpose vehicle that owned the warehouse facility.
GMR Airports Infrastructure Limited’s step-down subsidiary, GHIAL, signed definitive agreements and completed the transaction with ILP Core Ventures I PTE Limited, a wholly owned subsidiary of IndoSpace Logistics Parks Core Pte. Ltd. The deal was closed at an enterprise value of ₹188.1 crore.
In an official statement, GMR Group highlighted that this divestment showcases its capabilities in developing world-class institutional-grade real estate project assets and generating value through successful exits. The resulting cash-flows from the transaction will be utilized for expanding facilities and pursuing growth opportunities within the Hyderabad Airport Land Development portfolio.
With the divestment of the warehouse facility, GHAAL will no longer remain a subsidiary of GMR Airports Infrastructure Limited, marking a strategic move for the group. The transaction represents GMR Group’s focus on optimizing its asset portfolio and capitalizing on emerging opportunities.
ILP Core Ventures I PTE Limited, incorporated in Singapore on January 26, 2017, holds a 100% shareholding in 11 Indian Special Purpose Vehicles (SPVs). These SPVs possess a fully developed and leased industrial and warehousing asset portfolio covering approximately 8.1 million square feet across India.
The divestment of the warehouse facility at Hyderabad’s Rajiv Gandhi International Airport reinforces the growing importance of logistics and warehousing infrastructure in India. As the country witnesses an exponential growth in e-commerce and supply chain operations, strategic divestments like these open avenues for specialized logistics players to expand their footprint.
The transaction highlights the attractiveness of Hyderabad’s airport region as a thriving industrial and logistics hub. Hyderabad, being a major IT and business destination, coupled with excellent connectivity and supportive government policies, has positioned itself as a preferred location for warehousing and logistics operations.
GMR Group’s commitment to infrastructure development and its ability to attract global investors and partners have played a significant role in the successful divestment of the warehouse facility. The move not only unlocks value for the group but also paves the way for further expansion and investment in the airport’s land development initiatives.
As GMR Group continues to explore strategic opportunities and optimize its asset portfolio, stakeholders and industry observers will closely monitor its future endeavors. The divestment sets the stage for potential growth and showcases the group’s commitment to driving sustainable and innovative infrastructure solutions in India.